Nasdaq pushes Bitcoin's drop.

Nasdaq-pushes-Bitcoins-drop

Nasdaq downturn drives Bitcoin's decline today.

Why is this happening ?

Bitcoin is heavily correlated with the Nasdaq index, even more than with the S&P 500.
$BTC remains highly correlated with the S&P 500 too, though to a lesser extent.

For traders looking to build a Bitcoin strategy, closely monitoring Nasdaq movements (S&P 500 too) and the broader tech sector is essential these days.

Key reading : When the correlation ratio increases and remains above 0, it indicates a positive correlation between the assets.
The higher the ratio, the stronger the correlation.