Pro expects BTC and Nasdaq 100 to be more correlated

  • 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. About 11% on the NASDAQ 100.

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 later this 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 We have confirmed that a short Bitcoin fund secured an inflow of $10 million 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 U.S. dollar over the next few months, she confirmed.

BTC was briefly seen trading just above the aforementioned price last week. bitfinex It may indicate a possible bottom.

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