Bitcoin's 30-day correlation with the Nasdaq 100 Index has surged to its highest level in 3 years. Meanwhile, its link to traditional safe-haven **** ets, such as gold, has dropped to nearly zero.
This significant shift raises questions about Bitcoin's digital gold narrative as it now acts more like a high-beta technology **** et than a stable store of value.
In a recent post on X (formerly Twitter), The Kobeissi Letter highlighted that the cryptocurrency’s 30-day correlation with the Nasdaq 100 Index has reached roughly 0.80. This was the highest reading since 2022 and the second-strongest