Bitcoin Rides the NASDAQ Breakout
Bitcoin Correlations Report, July 2025
Sometimes, Bitcoin’s correlation to other risk-on assets works against it.
But right now, it’s working in Bitcoin’s favour. We’re seeing a double tailwind at play: one that’s internal to Bitcoin, and one that comes from outside.
The first tailwind, which we covered on Monday, is driven by Bitcoin’s own price dynamics. The second is a correlation effect, tied to what’s happening in traditional markets.
Let’s take a closer look.
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Bitcoin Rides the NASDAQ Breakout
The Takeaway
Bitcoin’s recent breakout didn’t come from a shift in correlation regimes, it came from the NASDAQ 100 pushing to new all-time highs.
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