Bitcoin drops 6% to 7-week low as US stocks erase post-election gains

The synchronized timing is the story here: bitcoin's slide landed at the US open alongside an equity reversal, reinforcing that crypto is still trading as a high-beta risk asset rather than an independent store of value. That matters most for anyone treating bitcoin exposure as portfolio ballast or as a hedge against traditional markets. The open question is whether this correlation holds on the next leg — if bitcoin keeps amplifying equity moves, its diversification case weakens; if it decouples, that would be the more meaningful signal.