The positive correlation between Bitcoin and Nasdaq (NDX) for several years has changed.
According to Fairlead Strategies, the 40-day correlation between Bitcoin and Nasdaq has reached zero.
Periods when the correlation between the two exceeds 0.5 indicate a harmony between Bitcoin and Nasdaq; The periods when it goes up to 0.7 are when the two interact with each other. a strong connection shows that it is.
The correlation between Bitcoin and Nasdaq has been largely positive since the beginning of 2020. It peaked at 0.8 during the bear market period in 2022.
Fairlead analysts, “We expect the correlation between Bitcoin and NDX to be low in the coming months due to developments such as the possibility of approval of spot Bitcoin ETFs and the halving in April.” he commented.
