BlockBeats News, November 17th, according to The Kobeissi Letter, the 30-day correlation between Bitcoin and the Nasdaq 100 Index has reached about 0.80, the highest level since 2022. This is also the second-highest reading in nearly 10 years.
Reportedly, over the past 5 years, the correlation between the two has always remained positive, with brief fluctuations occurring in 2023. Therefore, the 5-year correlation between Bitcoin and the Nasdaq index has reached 0.54. In comparison, Bitcoin’s correlation with cash and gold is close to zero. Bitcoin’s performance is increasingly resembling that of a leveraged tech stock.
