Bitcoin is just another trade to Wall Street—and it'll dump it in the end like always
Portfolio Pulse from
Standard Chartered analysts suggest Bitcoin is now more closely correlated with tech stocks like those in the Nasdaq, rather than traditional safe-haven assets like gold. The bank created a new index called Mag 7B, which replaces Tesla with Bitcoin, showing potential portfolio diversification strategies. Bitcoin's performance is being influenced by macroeconomic factors like money supply and dollar index.
March 25, 2025 | 3:30 am
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Bitcoin's correlation with Nasdaq has been high, around 0.5-0.8, indicating it's being traded more like a tech asset. Standard Chartered suggests potential increased institutional investment.
The article suggests Bitcoin is increasingly seen as a tech asset, which could attract more institutional investors and potentially drive price up in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100