Bitcoin’s Decline Mirrors U.S. Tech Stock Sell-Off

Bitcoin’s recent price decline has been closely aligned with the performance of high-growth U.S. tech stocks, according to Grayscale. This correlation suggests that the cryptocurrency’s sell-off was influenced by a broader market risk-off sentiment rather than issues specific to the crypto market. Grayscale’s analysis indicates that investors’ retreat from riskier assets amid market volatility has impacted both tech stocks and Bitcoin similarly.