Oh, look! Bitcoin‘s BFF, BlackRock IBIT, is getting cozy with the Nasdaq at a 70% correlation. History suggests a breakup is imminent, and it’s never pretty. ππ
Bitcoin (BTC) and the Nasdaq are practically holding hands now, and every time they’ve done this dance before, BTC ended up taking a 20% dive. Thanks for the memories, Matrixport! ππ
πTodayβs #Matrixport Daily Chart β March 25 2025 π½
Bitcoin-Nasdaq Correlation Hits Extreme: Divergence Likely Ahead
#cryptocurrency #BTCETF #Matrixport #BTC #Trump #market #trading #Bitcoin #MarketTrends
β Matrixport Official (@Matrixport_EN) March 25, 2025
In a recent X post, Matrixport spilled the tea on why Bitcoin and the Nasdaq are so chummy lately. Earnings repricing and global economic uncertainty are the usual suspects. Shocking, I know. π
βThis correlation reflects the recent repricing of earnings expectations ahead of Q1 earnings season, along with ongoing uncertainty and the negative overhang from tariff discussions. As a result, Bitcoin is trading in line with the tech sector.β
Matrixport
But don’t worry, Matrixport says these love affairs never last. High correlations are like a summer fling β fun while it lasts, but eventually, someone gets their heart broken. π
Bitcoin might be ready to dump the Nasdaq, but who knows when the big break will happen? Stay tuned for the juicy details! πΏ
In other news, Bitcoin ETFs are back in the spotlight, and BTC is strutting its stuff above the $85,000 support level. Analysts are predicting a hot new trend, but let’s see if Bitcoin can keep it together this time. π
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2025-03-25 14:27