The Globe and Mail reports in its Friday edition that bitcoin may be having a great year, but it is losing momentum just when it might have been expected to go up a gear. A Reuters dispatch to The Globe says that the traditionally strong and positive correlation with big technology stocks and growth stocks that have exploded higher in recent weeks, has broken down. Bitcoin's rolling 30-day correlation with Nasdaq last week flipped to its most negative in six months, and its correlation with the NYSE FANG+ Index of mega tech and growth equity plunged to its most negative in nearly four years. The recent burst of investor optimism that the boom in artificial intelligence (AI), ChatGPT software and advanced microchip technology will be transformational for economies is driving the surge in Big Tech. Crypto might have been expected to ride on the coattails, but has not. Bitcoin peaked above $31,000 (U.S.) in mid-April for a year-to-date gain of almost 90 per cent, but is now trading back at $27,000 (U.S.), paring its 2023 gains to 63 per cent. Bitcoin trading volumes and demand have slumped. Matt Weller, analyst at StoneX, says there does not seem to be a compelling reason to buy bitcoin, and the AI boom has legs.