Matrixport: Bitcoin's correlation with Nasdaq approaches 70%, or a divergence in trends may be on the horizon

ChainCatcher news, Matrixport analysis shows that the Bitcoin ETF IBIT's 30-day actual correlation with Nasdaq is approaching 70%, a level that has only occurred twice in history, indicating that Bitcoin is currently driven by macro factors and is moving in line with other risk assets.

The high correlation mainly stems from the market's reassessment of earnings expectations ahead of the first-quarter earnings season and the uncertainty surrounding tariff policies.

However, historical data indicates that such a high correlation is difficult to sustain, and Bitcoin may experience a divergence in trends from Nasdaq in the future.