On March 25, news surfaced that Matrixport released a daily chart analysis stating that the actual correlation between Bitcoin ETF IBIT and Nasdaq is approaching 70% over the past 30 days. This level has only been reached twice in history, indicating that Bitcoin is currently driven by the same macro factors as other risk assets. This high correlation mainly reflects the market's re-evaluation of earnings expectations ahead of the first quarter earnings season and the negative impact of tariff policy uncertainty. As a result, Bitcoin's recent performance has closely aligned with the tech sector of the US stock market. However, historical data shows that such a high correlation is usually difficult to sustain, suggesting that Bitcoin and Nasdaq may experience diverging trends in the future.