Analysis: Correlation Between Bitcoin and Nasdaq 100 Index Reaches Three-Year High

ChainCatcher news, according to Kobeissi, the 30-day correlation between bitcoin and the Nasdaq 100 index has reached approximately 0.80, marking the highest level since 2022 and the second highest in the past decade. Over the past five years, except for a brief negative period in 2023, this correlation has remained positive.

Currently, the five-year correlation between bitcoin and the Nasdaq index is 0.54, while its correlation with cash and gold is almost zero. The report states that bitcoin's performance is increasingly resembling that of a leveraged tech stock.