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🟠BITCOIN-NASDAQ CORRELATION DECREASING AMID OVERSUPPLY

🟠BITCOIN-NASDAQ CORRELATION DECREASING AMID OVERSUPPLY

Day: 09 | Time: 17:07:45.000Z The correlation between Bitcoin and the Nasdaq 100 is decreasing due to an oversupply and lack of demand for the cryptocurrency. The 90-day correlation has dropped to 0.21, the lowest level since May. This decrease is due to factors such as the sale of Bitcoin seized by the German and US governments and the distribution of funds from the Mt. Gox auction. Additionally, Bitcoin miners are under pressure to sell their token reserves due to reduced profitability. These factors are impacting investor confidence and could further pressure Bitcoin prices.

Bitcoin's correlation with surging US equities is collapsing