Correlation between Bitcoin and Nasdaq 100 index reaches maximum value. According to analysts, the 90-day correlation coefficient between Bitcoin and the Nasdaq 100 technology index has reached 0.46. This is the highest level since the end of summer 2023.
This is the highest level since the end of summer 2023. Experts believe that BTC is now considered an asset identical to technology company stocks. Joshua Lim, co-founder of Arbelos Markets trading company, noted that after the US Federal Reserve raised the key interest rate in 2022, the correlation between Bitcoin and the Nasdaq 100 index began to increase.
Joshua Lim, co-founder of Arbelos Markets trading company, noted that after the US Federal Reserve raised the key interest rate in 2022, the correlation between Bitcoin and the Nasdaq 100 index began to increase. In his opinion, investors are increasingly understanding that cryptocurrency has ceased to be just a payment method – it is also a developed technology and a useful mechanism for transferring value.
Lim noted that Bitcoin is becoming increasingly interconnected with other assets, such as technology company stocks traded on the Nasdaq exchange.
