Chart of the Day: BTC vs NQ - who will win?
Bitcoin and the Nasdaq are sending conflicting messages about risk appetite and only one of them is telling the truth.
The Nasdaq is now at ATH again, while Bitcoin has dropped to a one-month low, crashing through multiple supports $66,000.
Historically, these two have generally trended together, but with Bitcoin down nearly 10% and Nasdaq up close to 7%, the two have now diverged again.
The past two times this has happened, in November 2023 and much of Q1 2024, Bitcoin proved to be right the first time, and Nasdaq the second time. Now it remains to be seen who will be right this time.