Bitcoin’s Correlation With Nasdaq 100 Hits Record High

Recent data reveals a heightened connection between Bitcoin and the Nasdaq 100 index, hitting a peak of approximately 0.80 over a 30-day period. This signifies the highest correlation since 2022, according to BlockBeats reports. Notably, this figure sits second only in recent history, underscoring the strong influence technology stocks have on Bitcoin’s performance. The five-year correlation between Bitcoin and traditional assets like cash and gold has remained largely stagnant at approximately 0.54. This suggests that Bitcoin is increasingly exhibiting a similar dynamic to tech stocks, with its value fluctuating based on tech sector trends.