The post Nasdaq Drop Pulls Bitcoin Down While FX Guys Keep Pumping! appeared first on Coinpedia Fintech News
The financial markets have recently experienced notable turbulence, highlighted by a significant decline in the Nasdaq Composite Index. Most affected by this downturn has been Bitcoin, indicating how connected traditional equity markets are becoming and crypto. Bitcoin was historically seen as a hedge against conventional financial systems, but trends have recently converged. Analyses show that Bitcoin tends to follow the contours of major indices such as the S&P 500 and Nasdaq — although with greater volatility. History has shown that the S&P 500 had a 24% increase, and Bitcoin had a whopping 135%, proving it reacts much stronger than the traditional financial world.
This increased correlation indicates that significant macroeconomic drivers traditionally impacting prevalent asset classes, including economic data, corporate earnings, and geopoli
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