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

Huoxun Finance reported on February 4th that Matrixport's chart analysis today indicates that although Bitcoin has fallen by approximately 14% year-to-date, crypto-related 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 experienced 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 change in market pricing methods. In the past, the market tended to treat crypto assets as a unified whole, moving in tandem with each other; now, it is beginning to judge them separately based on the different business models and main business directions of various companies. 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.