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Bitcoin slipped to $66,000 as a familiar gap opened back up between the cryptocurrency and Bitcoin-adjacent equities, a divergence that has periodically rattled investors who treat crypto stocks as a liquid proxy for $BTC exposure.
At the same time, oil dropped beneath $78 a barrel, adding a macro headwind that complicated the picture for risk assets broadly.
A Gap the Market Has Seen Before The phrase "returns" in TradingView's framing is doing real work: this divergence is not new.
There have been prior episodes in which Bitcoin-related stocks — miners, treasury holders, infrastructure plays — moved independently of BTC itself, leaving traders who expected a tight correlation offside.
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