Has Institutional Adoption Hurt Bitcoin? ETF Era Ties BTC's Price Moves to Tech Stocks

Since the launch of spot Bitcoin ETFs, BTC has increasingly traded like a risk asset alongside tech stocks, with every risk-off move this year hitting Bitcoin in tandem with the Nasdaq. The pattern raises the question of whether institutional adoption, long seen as a bullish catalyst, has instead pulled Bitcoin into the same risk bucket as equities rather than establishing it as an independent or uncorrelated asset.