Bitcoin and software stocks are breaking up — and history says a major crypto move is coming
Bitcoin and software stocks have diverged significantly after years of moving in lockstep, with software ETFs rallying while Bitcoin has seen a decline. Analysts suggest that historically, such low correlation periods often precede major upward moves for Bitcoin.
Why it matters
The decoupling of Bitcoin from traditional tech assets challenges the narrative of Bitcoin as a high-beta tech stock and suggests a potential shift in market dynamics.
Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Bitcoin and software stocks are breaking up — and history says a major crypto move is coming Bitcoin and software equities have sharply diverged after moving in lockstep for years, raising questions over whether bitcoin will eventually catch up. By James Van Straten | Edited by Jamie Crawley Jun 1, 2026, 10:02 a.m. 2 min read Make preferred on BTCUSD/IGV (TradingView) What to know : Since April 10, the iShares Expanded Tech-Software Sector ETF (IGV) has rallied 36% and reclaimed its 200-day moving average, signaling a return to a long-term uptrend despite earlier concerns over AI disrupting traditional software businesses. Bitcoin s 20-day rolling correlation with IGV has fallen to 0.58, a level last seen before major bitcoin rallies in late 2023 and mid-2024. Previous episodes of similarly low correlation were followed by bitcoin significantly outperforming in the months ahead. Bitcoin BTC $ 72,150.93 and software stocks moved almost in lockstep for much of the past five years, with BTC treated as a high-beta technology asset .
The article presents market data and analyst perspectives on financial trends without taking a partisan stance.
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