Convergence

Bitcoin

Coin

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 <li>Bitcoin’s YTD returns hit 34%, narrowing its lead over NASDAQ’s 20% gain.</li> 
 <li>Both assets faced similar market pressures, leading to a recent decline.</li> 
 <li>Bitcoin trades at $60,846, slightly above its 200-day SMA, after a 2% rally.</li> 
</ul> 
The NASDAQ 100 has shown impressive gains in August, narrowing the gap with Bitcoin’s year-to-date (YTD) performance. Bitcoin is up roughly 34% YTD, while the NASDAQ has climbed 20%. 
The current year has been relatively quiet for Bitcoin, with few major catalysts. According to <a href="https://t.co/jIPMTm9CnV" target="_blank" rel="nofollow">Ecoinmetrics</a>, Bitcoin saw a significant surge early in the year, fueled by the launch of spot Bitcoin ETFs in the U.S. This pushed Bitcoin’s YTD returns past 40% by February, while the NASDAQ remained relatively flat. 
The NASDAQ eventually hit an all-time high (ATH) of $73,737. However, Bitcoin’s momentum slowed as the year progressed, reducing its gains to 34%. 
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 The gap between Bitcoin and the NASDAQ is closing. Year-to-date Bitcoin is up about 34% while the NASDAQ has gained 20%. It's been a quiet year for Bitcoin so far. Besides the ETF launch boosting prices early on there have been no major drivers pushing Bitcoin forward. <a href="https://t.co/LCGf8iuG6d" target="_blank" rel="nofollow">pic.twitter.com/LCGf8iuG6d</a>— ecoinom…
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The post <a href="https://coinedition.com/the-convergence-of-bitcoin-and-nasdaq-what-does-it-mean/">The Convergence of Bitcoin and NASDAQ: What Does it Mean?</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

The Convergence of Bitcoin and NASDAQ: What Does it Mean?

Coin Edition

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