Bitcoin pulls away from software stocks as Iran war, AI reshape market dynamic

What Happened

Since Iran conflict began February 28, bitcoin rose over 5% to $69,000, while software ETF IGV fell 2%. Their correlation dropped from near-perfect 1.0 to 0.13, indicating decoupling. Investors increasingly treat bitcoin as macro asset benefiting from geopolitical uncertainty, while worrying AI will compress software margins. Spot bitcoin ETFs received $471 million inflow April 6.

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