Bitcoin Reverses Underperformance Against Nasdaq 100 Over Past Two Months
The relationship between Bitcoin and U.S. tech stocks is shifting again, according to analysis from CryptoSlate.
Over the past 60 days, Bitcoin has outperformed the Nasdaq 100 by 5 percentage points, rising 2% while the index fell 3%. This reverses a sharp underperformance by Bitcoin against the tech-heavy index last year, when it fell 44% and the Nasdaq 100 rose 24%, leaving it 68 percentage points behind.
A similar pattern appeared in major altcoins, with Ether falling 56% over the past year but rising 12% over the past 60 days. Solana also fell 58% last year but rose 10% over the same period.
CryptoSlate's analysis notes that relative strength in Bitcoin and altcoins is not limited to longer periods, with all three rising while the S&P 500 and Nasdaq 100 fell over the past 14 days and seven days. However, some analysts are cautious about interpreting this as a signal of a full-fledged shift in funds.