## Bitcoin's Sensitivity to Nasdaq Declines Recent analysis reveals Bitcoin (BTC) maintains a strong correlation (around 0.8) with the Nasdaq stock market. This relationship, however, exhibits an asymmetry. According to Wintermute, a prominent cryptocurrency market maker, Bitcoin reacts sharply to Nasdaq corrections but shows muted responses to its upward movements. This "downward-leaning" sensitivity is reportedly at its peak since late 2022. Despite this, Bitcoin continues to trade near its all-time high, demonstrating underlying resilience. While the correlation raises concerns about BTC's independence, it also highlights its growing integration into broader financial markets. Investors should carefully monitor Nasdaq's performance when assessing Bitcoin's potential price action. ```