Bitcoin (BTC/USD) vs. Nasdaq: Is the Correlation Affecting Crypto Outflows?
- Bitcoin has recovered from a sharp selloff earlier in the week, rising from around 89000 to nearly 98500 post CPI.
- ETF flow data shows three consecutive days of net outflows for Bitcoin as correlation with Nasdaq grows.
- Could a Trump Presidency lead to significant capital inflow into Bitcoin in 2025?
- Technically, Bitcoin is at a critical juncture breaking the 50-day moving average and eyeing the 100k handle.
Bitcoin has staged an impressive recovery since Monday afternoon lows around the 89000 mark. Cryptocurrencies were also affected by US jobs data ahead of the weekend and the stronger US Dollar early on Monday was in part responsible for the sharp selloff.
The recovery has been swift however with Bitcoin rising from a Monday low…
