Bitcoin badly lagged tech for most of 2026, down 33% while the Nasdaq posted double-digit gains. In the last few weeks that's completely reversed. Real decoupling, or just a bounce that snaps back?

For six months this was the story: Bitcoin down almost a third, Nasdaq up double digits over the same stretch. People read it as crypto having its own problem, not part of a broader risk-off move.

Then since July 1, it's basically flipped. Bitcoin's up around 9-10%, back into the mid-$64,000s, while the Nasdaq's been sliding through earnings-week jitters, AI capex worries, and oil volatility.

That's a genuine reversal, but it's young, a few weeks against six months of the opposite direction. Is Bitcoin finally starting to move on its own logic instead of following tech sentiment, or is this just an oversold bounce that happens to line up with a rough patch for the Nasdaq, and it all snaps back once tech stabilizes?