• Bitcoin and Nasdaq’s decoupling stopped as BTC’s value surged.
• BTC’s funding rate remained positive as it traded around $30,700.

Intriguing data by Ecoinometrics revealed an emerging correlation between Bitcoin [BTC] and Nasdaq. This new pattern captivated observers, shedding light on BTC’s overall trajectory and sentiment among traders.

Read Bitcoin’s [BTC] Price Prediction 2023-24

Bitcoin, Nasdaq correlation

Bitcoin’s price correlation with traditional stocks has served as a valuable tool for investors in constructing their investment portfolios. Moreover, BTC has emerged as the benchmark against which traditional stocks are measured.

A recent analysis conducted by Ecoinometrics highlighted a noteworthy phenomenon: the price trends of BTC and Nasdaq have recently become intertwined.

The chart revealed a period of decoupling between BTC and Nasdaq from around April to June. Before this period, BTC and traditional stock prices exhibited a similar trajectory.

However, the present surge in BTC’s price, fueled by recent developments juxtaposed with the bearish sentiment plaguing stocks, has enabled BTC to bridge the gap and catch up to Nasdaq.

Surges and sentiments

The recent surge in applications for a
Go to Source to See Full Article
Author: Adewale Olarinde

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details