Nvidia’s $4T Rise & BTC’s Decoupling
Nvidia’s astonishing ascent to a $4 trillion market cap may have ignited Bitcoin’s surge above $111,000, but the once-tight correlation between the two is fading—dropping from ~0.80 in early 2024 to just ~0.36 now.
Bitcoin’s current rally is driven less by Nvidia’s AI-fueled momentum and more by institutional strength: large on-chain transfers, ETF inflows, and long‑term holder accumulation are propelling the market. Glassnode notes that quieter transactions reflect maturity—not weakness. With their correlation waning, Bitcoin’s resilience increasingly hinges on crypto-specific fundamentals rather than Big Tech trends.
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