Bitcoin Breaks Up With Big Tech: The QQQ–BTC Correlation Is Cracking

For years, Bitcoin (CRYPTO: BTC) and the Invesco QQQ ETF (NASDAQ:QQQ), which tracks the Nasdaq 100, moved almost in lockstep, both acting as gauges of investor risk appetite. But that relationship is fraying fast, and the recent divergence is hard to ignore.

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Until recently, BTC and QQQ had a correlation above 0.75, signaling strong co-movement during risk-on periods, noted Heisenberg on X. Over the past month, however, the correlation has fallen toward 0.4, while QQQ has surged to new highs driven by AI-led mega-caps. Bitcoin has …

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