Bitcoin and Nasdaq: A Love Story Gone Sour 😔

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Oh, what a curious spectacle unfolded this week! Our steady world beheld a most unexpected affair as Bitcoin and Nasdaq, once inseparable companions, chose divergent paths. While Gold gleamed and the Nasdaq 100 leaped joyously, Bitcoin lumbered behind, much to our collective bewilderment-a creature neither daring nor prudent, it seems. 😅

It appears that over the past seven days, Bitcoin’s price dipped a modest 2.09%, as revealed by Coingecko’s unerring charts. Meanwhile, the safe-haven Gold smirked upwards by 4.85%, and the risk-loving Nasdaq 100 Index rose by 1.34%. What a charmed existence, if you ask me!

The Great Separation

For quite some time now, Bitcoin and Nasdaq have waltzed hand in hand, always a step ahead of or behind each other. This was true even as we sauntered into last week. Indeed, after Herr Federal Reserve Chair Jerome Powell hinted at easing interest rates and drawing curtains on the Quantitative Tightening masquerade, both indices received momentary encouragement.

But ah, all composure abandoned them around 9 am UTC on October 15. The Nasdaq continued its upbeat march, advancing a minuscule 0.44%, while poor Bitcoin fell a disheartening 3.71%. An unfortunate infidelity of sorts, wouldn’t you say?

The Root of the Rift

Some coincidentally astute on-chain analysts attribute this calamity to a proverbial flood that engulfed the crypto market on October 10, an event sweeping away more than $19 billion in assets! TeddyVision noted a peculiar drama: while USDC (often a symbol of stable intent) retreats from spot markets, USDT (a harbinger of speculation) climbed into derivatives exchanges. How dastardly!

Is Demand Authentic?

Here’s where the plot thickens. It seems the recent surge in Bitcoin’s fortunes was not so much fueled by genuine desire but was perhaps a mirage of leverage and synthetic fancy, built on the slippery sands of derivatives and ETFs.

The crash erased all illusions of mythical buyers, leaving Bitcoin wallowing in the aftermath, trailing Nasdaq who marched on gracefully.

Global Chicanery and Altcoin Allegiance

After its woeful spell, Bitcoin mustered enough elasticity to bump against $108,000 on Sunday, a mere glimmer of its former glory. For it to stride alongside recovering Nasdaq, global circumstances must shift-perhaps the de-escalation of the US-China tariff theater can script the next act. Initially, tariffs pushed it down from its lofty $122,000 perch to $100,000 with a deviousness seldom seen.

The air is tinged with conspiracy, as President Trump hints that imposing 100% tariffs may be unsustainable, playing charades for concessions on rare earths. Treasury Secretary Besent, too, will join Chinese Vice Premier He Lifeng in the far reaches of Malaysia, laying groundwork for a probable summit under APEC’s distinguished eyes on October 31. The stage is rife with anticipation!

Bitcoin’s recent falter contrasts with the exuberant resurgence of altcoins such as ETH and SOL, which defied their elder sibling with gains of 5.96% and 7.12%, respectively. Perhaps they hold insider whispers of future joy.

The Road Ahead: Whisperings of the Economy

Looking forth, we cast our eyes toward elusive macroeconomic signals. Delays in CPI data eagerly await as the US governs itself elsewhere. Concurrently, PMI metrics and the University of Michigan Inflation Expectations are summoned from their academic lairs.

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2025-10-20 03:27