Leading cryptocurrency Bitcoin (BTC), the world’s tech stock market almost since the start of the Covid-19 pandemic Nasdaq is correlated with.
According to data from Bloomberg Bitcoin-Nasdaq correlation reached an all-time high.
When Bloomberg’s data is analyzed, the 40-day correlation between Bitcoin and Nasdaq broke the record, reaching an all-time high of 0.6945 on April 8.
BTC-Nasdaq Commenting on the correlation, Bloomberg’s Joana Ossinger said:
“The increase in BTC-Nasdaq correlation goes against the inference that Bitcoin is a diversification tool.”
Former BitMEX CEO Arthur Hayes He also made some evaluations by drawing attention to the strong correlation between Bitcoin and Nasdaq.
Last week, it reached the level of $ 48,000. bitcoin It started this week low and went below $41,000.
In this process, we see that the Nasdaq 100 dropped from 15160 points to 14150 points.
It is considered that trade bots are effective in Bitcoin’s high correlation with US stock markets.
For this reason, we are trying to follow the instant changes in the US stock markets and try to deliver them to you.
Don’t forget to follow us on twitter for such last minute developments.
Before the inflation data to be announced tomorrow, the US stock markets started the week with sellers.
Dow -0.35
S&P 500 -0.76
Nasdaq 100 -1.4#Bitcoin 40700$
— Bitcoin System (@bitcoinsystem) April 11, 2022