What to Know:
- Ah, the eternal tango-Bitcoin and Nasdaq dashing away from each other like star-crossed lovers in July 2021, September 2023, and August 2024-all while Bitcoin hits rock bottom. Who knew a negative correlation could be so dramatic? 🎭
- Bitcoin’s down 27% from its October peak, while Nasdaq is practically yawning at record highs-just 2% below-like a lecherous cat that can’t decide whether to pounce or nap, making it a perfect setup for a rebound. Meow! 🐱
Bitcoin, that wild creature, is once again playing the rebel-behaving differently from its usual risk-loving tech buddies. And this latest divergence? Possibly a cryptic signal-perhaps the crypt’s version of “Michelle, there’s a bottom forming,” but we’re not holding our breath.
The negative correlation has historically been a zombie signal, rising from the grave when Bitcoin hits bottom-like in July 2021, September 2023, and August 2024. It’s almost as if Bitcoin enjoys throwing fits at the worst times just to keep us on the edge of our seats. 🎢
In the past five years, this pattern of negative correlation-currently at -0.43-has reared its head four times. Summers of 2021 and 2024, both of which saw Bitcoin limping back from lows, as if it had just remembered it’s a blockchain not a roller coaster. Crypto’s reputation as a leveraged, high-beta tech asset-like that one friend who always overpromises-continues to be tested by these antics. 💸
Watching Bitcoin fall as much as 36% from its October glory days, while Nasdaq merely dipped 8% and now teeters just below its all-time high? Well, that’s classic drama. Bitcoin remains stuck 27% below its peak, still waiting for the sequel-probably with popcorn in hand. 🍿
Looking back, these negative correlations-like a recurring nightmare-have appeared near crucial moments: the yen carry trade unwind crashing Bitcoin to about $49k, the China mining ban plummeting it from $60k to $30k, only to see it rebound like a phoenix. Each time, it’s like Bitcoin whispers, “Hold my coin, I’ll be back,” and then surprises us all. 🤪
So, what’s the lesson? These episodes scream that Bitcoin’s lows are often shadowed by these weird love-hate moments with Nasdaq. Maybe another bottom is brewing, maybe not-either way, it’s the classic waiting game, and I’d say the clock’s ticking with a little sarcasm and a lot of patience. Who needs certainty when you have chaos? 😏
Read More
- Best Controller Settings for ARC Raiders
- DCU Nightwing Contender Addresses Casting Rumors & Reveals His Other Dream DC Role [Exclusive]
- Stephen Colbert Jokes This Could Be Next Job After Late Show Canceled
- 7 Home Alone Moments That Still Make No Sense (And #2 Is a Plot Hole)
- Ashes of Creation Rogue Guide for Beginners
- 10 X-Men Batman Could Beat (Ranked By How Hard It’d Be)
- Gold Rate Forecast
- Gigi Hadid, Bradley Cooper Share Their Confidence Tips in Rare Video
- Another Nioh 3 Demo Is On Its Way to PS5, Out 29th January
- Alien films ranked: Which is the best entry in the iconic sci-fi franchise?
2025-12-04 21:35