Bitcoin's correlation with tech stocks hits highest since August!

📈 Bitcoin is now behaving more like tech stocks, with its 90-day correlation coefficient with the tech-heavy Nasdaq 100 index reaching 0.46, the highest since late August.

➡️ This shift reflects growing optimism that borrowing costs might soon decrease, making Bitcoin more akin to high-growth assets.

👀 Despite being touted as an uncorrelated asset, Bitcoin's recent behavior suggests otherwise. The approval of Bitcoin ETFs has opened the market to new investors, driving its price up significantly.

🐃 Analysts believe that if the Federal Reserve lowers interest rates, it could be bullish for Bitcoin and other risk assets.