{"id":18198,"date":"2023-03-01T01:21:24","date_gmt":"2023-03-01T01:21:24","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/pro-expects-btc-and-nasdaq-100-to-be-more-correlated\/"},"modified":"2023-03-01T01:21:24","modified_gmt":"2023-03-01T01:21:24","slug":"pro-expects-btc-and-nasdaq-100-to-be-more-correlated","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/pro-expects-btc-and-nasdaq-100-to-be-more-correlated\/","title":{"rendered":"Pro expects BTC and Nasdaq 100 to be more correlated"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/michael-fortsch-4GD_5kMZmY8-unsplash-1-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/michael-fortsch-4GD_5kMZmY8-unsplash-1-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/michael-fortsch-4GD_5kMZmY8-unsplash-1-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/michael-fortsch-4GD_5kMZmY8-unsplash-1-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Stockton discussed correlation of BTC and Nasdaq 100 on CNBC.<\/li>\n<li>She says bitcoin has to break above $25,000 to look attractive.<\/li>\n<li>Bitcoin is currently up about 40% YTD; Nasdaq 100 about 11%.<\/li>\n<\/ul>\n<p>So far, bitcoin has meaningfully outperformed the Nasdaq 100 this year \u2013 up roughly 40% at writing versus a significantly narrower 11% gain in the tech-heavy index.<\/p>\n<h2>Katie Stockton\u2019s remarks on CNBC<\/h2>\n<p>Interestingly, BTC remained resilient in the back half of the current month even after the U.S. Bureau of Labour Statistics said <a href=\"https:\/\/www.nytimes.com\/live\/2023\/02\/14\/business\/january-cpi-inflation-report\" target=\"_blank\" rel=\"noopener\">inflation<\/a> was up more than expected in January.<\/p>\n<p>Nonetheless, Fairlead Strategies\u2019 Katie Stockton says bitcoin and the Nasdaq 100 index will likely be more correlated again moving forward.<\/p>\n<blockquote>\n<p>We suspect that with equities now declining again, we\u2019ll get back into that higher correlation mode between bitcoin and Nasdaq 100 and other risk assets.<\/p>\n<\/blockquote>\n<p>A day earlier, <a href=\"https:\/\/www.coindesk.com\/markets\/2023\/02\/27\/short-bitcoin-funds-record-10m-in-weekly-inflows-coinshares\/\" target=\"_blank\" rel=\"noopener\">CoinShares data<\/a> confirmed that short-bitcoin funds secured inflows of $10 million last week.<\/p>\n<h2>Bitcoin needs to break above a key resistance<\/h2>\n<p>According to Stockton, bitcoin is still trading below a strong resistance around the $25,000 level and has to break above it to look attractive. On CNBC\u2019s \u201c<a href=\"https:\/\/www.cnbc.com\/video\/2023\/02\/28\/fairlead-strategies-katie-stockton-we-suspect-bitcoin-will-get-to-a-higher-correlation-with-nasdaq.html\" target=\"_blank\" rel=\"noopener\">Squawk Box<\/a>\u201d, she said:<\/p>\n<blockquote>\n<p>It needs to clear that level in order to look better and because that would resolve a trading range to the upside and tell us that range is more likely a reversal pattern versus a continuation pattern.<\/p>\n<\/blockquote>\n<p>Stockton is keeping neutral both on yields and the U.S. dollar for the next several months, she also confirmed.<\/p>\n<p>BTC last week was briefly seen trading just above the said price \u2013 a move that analysts at <a href=\"https:\/\/blog.bitfinex.com\/wp-content\/uploads\/2023\/02\/Bitfinex-Alpha-42.pdf\" target=\"_blank\" rel=\"noopener\">Bitfinex<\/a> said could indicate a possible bottom.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/bitcoin-nasdaq-correlation-katie-stockton\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Stockton discussed correlation of BTC and Nasdaq 100 on CNBC. She says bitcoin has to break above $25,000 to look attractive. Bitcoin is currently up about 40% YTD; Nasdaq 100 about 11%. So far, bitcoin has meaningfully outperformed the Nasdaq 100 this year [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":18199,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/18198"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=18198"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/18198\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/18199"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=18198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=18198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=18198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}