I believe it correlates to global liquidity and interest rates. Some people have posted good analysis on that. And it's no surprise tech stocks are correlated

I believe it correlates to global liquidity and interest rates. Some people have posted good analysis on that. And it's no surprise tech stocks are correlated to said liquidity/rates too. That's how I explain it to myself, at least. I do believe a large tech selloff would most likely result in BTC selloff too. But chances are these sort of things may trigger a broader selloff too. e.g check gold correlation to tech stocks recently