Analysis: Chip stocks fall over 10% again within two weeks, while Bitcoin shows greater resilience; market may no longer view it as a leveraged tech-stock proxy

October 21 — Coinbase Institutional published an analysis noting that chip stocks posted another double-digit decline over the past two weeks, the second major sell-off since June, yet Bitcoin has shown notably greater resilience in both corrections. The analysis suggests this indicates the market may no longer simply view Bitcoin as a leveraged proxy for tech stocks, and its price action is gradually decoupling from tech stocks.