Bitcoin is not able to comply with the Nasdaq’s lead

Bitcoin has out of the blue gone quiet.

It is up 1% after falling 1% yesterday however zoom out and it has been flat since February 15.

Now what stands out on that chart is not per week of flat buying and selling however the huge run-up since February 6. A interval of consolidation is regular following an enormous transfer but it surely’s a very slender vary.

I look again on the interval in late-January/early-Feb as related. It took 11 days to interrupt that vary however when it did, the outcome was a $10,000 one-way transfer. I might count on one thing related when this vary lastly breaks.

For the bulls, I might say it is a reasonable concern bitcoin might journey on the massive rally within the Nasdaq right now. There was a excessive correlation between BTC and NQ however it could solely take a nudge to ship it hovering.