PANews reported on March 25 that Matrixport analysis showed that the 30-day actual correlation between Bitcoin ETF IBIT and Nasdaq is close to 70%, a level that has only appeared twice in history, indicating that Bitcoin is currently driven by macro factors and is trending in the same direction as other risk assets. The high correlation is mainly due to the market's reassessment of earnings expectations before the first quarter financial report and uncertainty in tariff policies. However, historical data shows that such a high correlation is difficult to sustain, and Bitcoin and Nasdaq may diverge in the future.
