Analysis: Amidst Bitcoin's pullback, crypto-related stocks showed divergent performance.

PANews reported on February 4th that Matrixport's chart analysis today indicates that although Bitcoin has fallen by about 14% year-to-date, crypto stocks as a whole have outperformed BTC, but individual stock returns within the sector have shown significant divergence. Specifically, brokerage and trading platforms (such as Robinhood and Coinbase) have seen double-digit pullbacks; while some Bitcoin mining companies, after shifting their business focus to AI data centers, have still recorded double-digit gains year-to-date, even after last week's correction.

This divergence indicates a shift in market pricing strategies. Previously, the market tended to treat crypto assets as a unified whole, moving in tandem with each other; now, it's starting to assess them separately based on different companies' business models and core business focuses. Consequently, the synchronicity between related stocks and Bitcoin has decreased, opening up alpha potential at the individual stock level. The significant dispersion of year-to-date (YTD) returns in the table directly reflects this change.