Bitcoin and software stocks are breaking up — and history says a major crypto move is coming
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- IGV has rallied 36% since April 10 and reclaimed its 200‑day moving average, signaling a return to a long‑term uptrend despite AI‑related concerns.
- Bitcoin is trading near $73,000, roughly 10% below its 200‑day moving average of $79,388.
- Bitcoin’s 20‑day rolling correlation with IGV fell to 0.58, a level last seen before major Bitcoin rallies in late 2023 and mid‑2024.
- Since May 14, IGV has risen about 12% while Bitcoin fell about 10%, marking one of the largest recent disconnects between the two assets.
- Historical data show that periods of similarly low correlation were followed by Bitcoin significantly outperforming the software sector in the months ahead.
Why it matters: Software investors profit from IGV’s 36% surge and 200‑day trend recovery, while Bitcoin holders see a 10% price dip; the historic low correlation suggests a potential upside for crypto investors soon.
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