Bitcoin’s Correlation With Tech Stocks Hits Near Three-Year High

Bitcoin’s relationship with US tech stocks has reached a near three-year high, impacting its volatility in both bullish and bearish markets. This correlation is being closely observed as Bitcoin mirrors the behavior of high-beta tech stocks, like those found in the Nasdaq 100. The current correlation stands at approximately 0.80, according to experts cited in the Kobeissi Letter. This indicates a heightened sensitivity for Bitcoin to changes in the technology sector.