$BTC
BTC
64,414.5
-1.41%
Bitcoin's correlation with the iShares Tech Software ETF (IGV) $WARD
WARD
Alpha
0.015416
-9.55%
hit a strong 0.73, as both plummeted over 16% in tandem. Institutional derisking, driven by AI infrastructure costs and high interest rates, is currently treating BTC as a high-beta growth asset rather than a hedge.