NYDIG research chief says Bitcoin-tech stock correlation is overstated despite recent rally

In a note published on Friday, NYDIG head of research Greg Cipolaro argued that the recent parallel rally in Bitcoin and U.S. software stocks reflects shared sensitivity to the current macroeconomic environment rather than a structural convergence. He said that although Bitcoin's 90-day correlation with software shares, the S&P 500 and the Nasdaq has risen, statistical measures suggest most of Bitcoin's price moves are still driven by factors outside traditional equity markets.