Bitcoin-Nasdaq return gap hits 70 percentage points, says CNBC

The correlation between Bitcoin and the Nasdaq has completely broken, with Bitcoin's relative underperformance against the stock market reaching its worst level in about seven years, CNBC reported. Since peaking in relative strength against the Nasdaq 100 index about a year ago, Bitcoin has plunged 35%. Over the same period, the Nasdaq has rallied approximately 35%, creating a 70 percentage point gap in returns between the two assets. This marks the most significant decoupling since the crypto bear market of 2019.