The correlation between Bitcoin and US tech stocks has climbed to a high level.

The Kobeissi Letter posted on platform X stating that the correlation between Bitcoin and U.S. tech stocks has rarely risen to a high level.

The 30-day correlation between Bitcoin and the Nasdaq 100 Index has reached about 0.80, marking the highest level since 2022 and the second highest in the past 10 years.

Over the past 5 years, except for a brief period in 2023, the correlation between the two has remained positive. As a result, the 5-year correlation between Bitcoin and the Nasdaq index has reached 0.54.

In contrast, the correlation between Bitcoin and cash or gold is basically zero. Currently, Bitcoin's market performance is increasingly approaching that of leveraged tech stocks.

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The correlation between Bitcoin and US tech stocks has climbed to a high level.

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BTC breaks $90,000

American Bitcoin's Bitcoin reserves have increased by approximately 623 BTC in the past 7 days, bringing its current holdings to 4941 BTC.

The US spot Ethereum ETF saw a net outflow of $19.4 million yesterday.

Listed companies, governments, ETFs, and exchanges collectively hold 5.94 million Bitcoins, representing 29.8% of the circulating supply.

The Bank of Japan is reportedly planning further interest rate hikes; some officials believe the neutral interest rate will be higher than 1%.

OKX: Platform users can earn up to 4.10% annualized return by holding USDG.

The Federal Reserve will begin its Reserve Management Purchase (RMP) program today, purchasing $40 billion in Treasury bonds per month.

Bitcoin treasury company Strategy's daily transaction volume has now surpassed that of payment giant Visa.

The US spot Bitcoin ETF saw a net outflow of $78.35 million yesterday.

JPMorgan Chase issues Galaxy short-term bonds on Solana network

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