Analysis: BTC more sensitive to Nasdaq declines than rallies

Bitcoin maintains a high correlation of 0.8 with the stock market, according to an analysis by crypto market maker Wintermute. The firm noted that BTC is particularly sensitive to corrections in the Nasdaq, while its response to rallies is more sluggish. This downward skew has reached its highest level since late 2022. Despite this trend, Bitcoin continues to trade near its all-time high.