📊 BTC x Software: The Correlation You Can't Ignore

Quick observation from the charts: Bitcoin and IGV (iShares Expanded Tech-Software ETF) have been moving in near-lockstep since 2023.

What we're seeing:

Both assets rallied hard through 2024, peaking around the same time
The recent pullback? Nearly identical trajectory
BTC currently at ~$69.9k, IGV at $82.46 - both down from recent highs

Why this matters: This tight correlation tells us Bitcoin is still trading as a risk-on tech asset, not the "digital gold" narrative many hoped for. When software stocks sneeze, BTC catches a cold.

For DeFi investors:

Macro tech sentiment matters MORE than you think
Fed policy, tech earnings, and Nasdaq movements should be on your radar
Diversification within crypto alone isn't true diversification if you're ignoring the tech correlation

The days of "BTC is uncorrelated" are behind us. We're in the institutional era now - which means macro matters.

What are you watching to gauge risk sentiment? Drop your thoughts below. 👇

Not financial advice. Chart analysis for educational purposes.

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