Bitcoin trades like a tech stock, not a hedge, Standard Chartered says

Bitcoin (BTC) should be treated more like a tech stock than a hedge against market volatility, according to Standard Chartered’s Geoff Kendrick. According to Decrypt, his analysis shows that replacing Tesla with Bitcoin in the “Magnificent 7” tech stock index—creating a hypothetical “Mag 7B”—would have boosted returns by 5% since 2017, while reducing volatility. Kendrick added that BTC's recent behavior aligns more closely with tech names like Nvidia, especially as open interest in futures surged and market jitters eased following earlier tariff-related uncertainty.