Bitcoin’s Correlation to Tech Stocks Reaches 2022 High

Bitcoin’s connection with the technology sector is showing a surprising similarity, mirroring the performance of US tech stocks like never before. A recent spike in Bitcoin’s correlation with the Nasdaq 100 has reached near-record levels, surpassing even the highs seen during the 2022 bear market. This trend marks an unusual shift as Bitcoin’s correlation to traditional assets, including gold, bonds, and cash, remains nearly absent.