**[Matrixport: Divergence in Crypto Concept Stocks Amid Bitcoin Pullback]** Deep Tide TechFlow reports that on February 4, Matrixport published an analysis stating that despite Bitcoin's approximately 14% decline year-to-date, crypto concept stocks have shown a clear trend of divergence. According to the latest data: - Brokerage and trading platforms (e.g., Robinhood, Coinbase) have seen double-digit pullbacks, with declines of 23% and 21%, respectively. - Some Bitcoin mining companies that have shifted their business focus to AI data centers have performed strongly, such as Riot Platforms and Core Scientific, which have risen by 21% and 22%, respectively. - IREN has performed the best, with a year-to-date increase of 44%. This divergence indicates that the market's pricing approach is shifting—from previously viewing crypto assets as a unified "rise and fall together" category to making differentiated judgments based on the business models and directions of individual companies. This has reduced the correlation between related stocks and Bitcoin, creating more alpha opportunities for individual stocks. Data shows that although the overall sector fell by 16.3% last week, the year-to-date return dispersion is significant, fully reflecting the market's differentiated pricing of various crypto concept stocks.