Software stocks are thought to be facing an existential threat from the rise of AI, and Bitcoin, noted one analyst, is just open-source software.
Bitcoin’s correlation with troubled software stock sector is growing
Software stocks are thought to be facing an existential threat from the rise of AI, and Bitcoin, noted one analyst, is just open-source software.
Shares:
The stock has risen about 20% since the U.S. strikes on Iran over the weekend.
Treasury Secretary Howard Lutnick is dismissing warnings that Trump’s trade policies will drive economic growth, as a BTC chill hits the markets.
Open interest across CME’s regulated markets jumped 27% since Oct. 10, signaling growing conviction among large traders.
The combined hashrate of the 13 U.S.-listed miners the bank tracks now accounts for a record high 33.6% of the global network.