
🌎 🇺🇸 #Bitcoin Taking Cue From #Tech #Stocks as Markets Await US CPI Test – Bloomberg *A 30-day correlation coefficient for the largest cryptocurrency and the Nasdaq 100 Index is at about 0.70, data compiled by Bloomberg show. https://t.co/5NMZUGFcH7 https://t.co/DKI5nggPqp
The correlation between Bitcoin and US tech stocks has hit a two-year high, indicating the equity market’s reaction to US inflation data may set the tone for digital tokens https://t.co/wB2olNDED4
Bitcoin rebounds above $96,000 amid global stock gains as investors focus on key US inflation data https://t.co/qWWIpsJe1w

Bitcoin has experienced a rebound, surpassing $96,000, as global stock markets show gains. This surge comes amid heightened investor focus on upcoming U.S. inflation data, which is expected to influence market trends. The correlation between Bitcoin and U.S. tech stocks has reached a two-year high, with a 30-day correlation coefficient of approximately 0.70 with the Nasdaq 100 Index. Additionally, the 100-day correlation between Bitcoin and the S&P 500 has risen to about 0.50, marking the highest level observed during an upward trend. Analysts suggest that the equity market's response to U.S. inflation data may significantly impact the trajectory of digital currencies.