Bitcoin continued trading near the $67,000 level on Monday as analysts pushed back against the idea that the digital asset behaves like a technology stock.
According to market data, Bitcoin was trading around $67,400, up roughly 2.2% on the day. The cryptocurrency has been moving sideways in recent sessions as traders wait for clearer market direction.
Research from NYDIG argues that comparisons between Bitcoin and high-growth software companies are often misleading.
In its latest report, the firm said Bitcoin does not generate revenue, profits, or cash flow, which are the key metrics used to value technology stocks.
Software companies are usually priced based on expected earnings growth and subscription revenue. Bitcoin, however, functions more like a scarce monetary asset, according to the analysis.
The report says Bitcoin’s price movements sometimes look similar to tech stocks because both react to broader economic conditions, especially changes in liquidity and investor risk appetite.
Technical indicators suggest Bitcoin’s momentum is currently stable. The Relative Strength Index (RSI) sits near the mid-40s, while the Chaikin Money Flow (CMF) indicator is close to neutral, showing a balance between buyers and sellers.
For analysts, the key point is that Bitcoin should be evaluated using a different framework. Instead of comparing it to technology companies, they say investors should focus on its fixed supply, decentralized network, and role as a digital monetary asset.
