Bitcoin Nasdaq Correlation Katie Stockton
  • Stockton discussed the correlation between BTC and the Nasdaq 100 on CNBC.
  • She says bitcoin has to go above $25,000 to look attractive.
  • Bitcoin is currently up around 40% YTD. Nasdaq 100 is about 11%.

So far, Bitcoin has significantly outperformed the Nasdaq 100 this year, up about 40% at the time of writing, compared to just 11% in tech-focused indexes.

Katie Stockton on CNBC

Interestingly, BTC remained resilient in the second half of the month even after the US Bureau of Labor Statistics said: inflation rose more than expected in January.

Nevertheless, Fairlead Strategies’ Katie Stockton says Bitcoin and the Nasdaq 100 index are likely to be more correlated in the future.

With stocks falling again, we expect a return to higher correlation mode between Bitcoin and the Nasdaq 100 and other risky assets.

a day ago, CoinShares data A short bitcoin fund confirmed that it secured $10 million in inflows last week.

Bitcoin needs to break through major resistances

According to Stockton, Bitcoin is still trading below the strong resistance near $25,000 and needs to break above it to look attractive. CNBC’s “squawk box“, she said:

To look good, you have to complete that level. This resolves the trading range upwards and shows that the range is more likely a reversal pattern than a continuation pattern.

Stockton remains neutral on both yields and the US dollar over the next few months, she confirmed.

BTC Last Week Was Briefly Seen Trading Just Above The Price Above – Analysts Say bitfinex It may indicate a possible bottom.

By Jules

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