The correlation between Bitcoin and Nasdaq has reached remarkable levels.

Recent analyses reveal that the correlation between Bitcoin and the Nasdaq Composite Index has reached approximately 70%. This high correlation indicates that Bitcoin's price movements are now aligned with major technology stocks, suggesting that Bitcoin is increasingly influenced by fluctuations in traditional stock markets.

The strong correlation between Bitcoin and the Nasdaq signals a strengthening connection between the cryptocurrency market and tech stocks. Macroeconomic developments and investor sentiment directly impact Bitcoin's price movements. Changes in investor risk appetite and global economic data create similar effects on both tech stocks and Bitcoin. Historically, high correlation levels between Bitcoin and Nasdaq tend to be short-lived, with Bitcoin’s performance often diverging from traditional stock markets over time. Additionally, Bitcoin's correlation with gold has been declining, indicating a shift from its "digital gold" perception toward being viewed more as a risky asset.