According to ChainCatcher, The Kobeissi Letter reports that the 30-day correlation between Bitcoin and the Nasdaq 100 index has reached approximately 0.80, the highest level since 2022. This is also the second highest reading in nearly 10 years.
Reports indicate that the correlation between Bitcoin and the Nasdaq Composite Index has remained positive for the past five years, with a brief fluctuation in 2023. Therefore, Bitcoin's five-year correlation with the Nasdaq Composite Index is 0.54. In contrast, Bitcoin's correlation with cash and gold is essentially zero. Bitcoin's performance is increasingly resembling that of a leveraged tech stock.
