## Bitcoin Decouples from Nasdaq, Hinting at Bottom? Bitcoin's negative correlation with the Nasdaq 100 continues to strengthen, fueling speculation of a potential bottom formation. CoinDesk reports a correlation coefficient of -0.43 as of the 20th. Historically, similar levels in 2021, September 2023, and August 2024 preceded significant BTC rebounds. Currently, Bitcoin sits approximately 27% below its all-time high, while the Nasdaq is only down about 2%, demonstrating a growing divergence. This decoupling suggests Bitcoin is reacting to factors independent of traditional tech stocks. While historically significant, some analysts caution against prematurely declaring a bottom. Lingering macroeconomic uncertainties and regulatory headwinds could still impact Bitcoin's price. Further analysis is needed to confirm if this decoupling marks a true turning point for Bitcoin. The increased institutional investment into Bitcoin via ETFs may be playing a role in this decoupling as well, providing stability and driving demand. ```