🔸Analyzing the correlation coefficients of $BTC over a 30-day moving average, a strong correlation of 0.70 with gold and a weaker correlation of 0.53 with the Nasdaq 100 is observed. 🔺For those who don't know what the Nasdaq 100 is ((The Nasdaq 100 (spelled with 'q', not 'p') is a stock market index.

It represents the 100 largest non-financial companies listed on the Nasdaq stock exchange, which is one of the major stock exchanges in the United States. It is known for including many of the leading technology companies, but also encompasses companies from other sectors such as retail, health, and biotechnology. It is considered an important indicator of the performance of large-cap growth stocks, especially in the technology sector.)).

🔸This suggests that Bitcoin is aligning more with the behavior of gold than with that of technology stocks. Correlation values can range from 1 (strong positive correlation) to -1 (strong negative correlation).😝