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$BTC is in focus after BlackRock said sentiment around bitcoin is shifting, pointing to a growing separation between bitcoin's price behavior and equity market moves.
The firm described the decoupling as healthy, framing it as validation of bitcoin's thesis as a portfolio diversifier.
The decoupling read When two assets move in the same direction at the same time, correlation is high and the diversification case is thin. That has been a recurring challenge for bitcoin in institutional portfolios.
BlackRock's read is that the relationship is loosening. The firm said the decoupling is part of the thesis for a lot of people around bitcoin as a diversifier.
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