Bitcoin’s slide to $97K has created a major disconnect between surface-level technicals and deep on-chain data. The Bear Case: BTC’s 0.8 correlation with the Nasdaq has become “one-sided.” It follows tech stocks down but doesn’t follow them up , signaling “exhaustion” last seen in the 2022 bear market. The Bull Case: This drop has triggered “extreme fear” (a classic bottom signal). On-chain data from Swissblock shows capital is not leaving, as stablecoin balances are rising —meaning “buying power” is just “parked on the sidelines.” Bitcoin’s slide below the $100,000 level has created a sharp divide in the market, pitting bearish “exhaustion” signals against classic “buy” signals. While the drop to $97,000 is being driven by a one-sided, negative correlation with the Nasdaq, on-chain data shows “extreme fear” and a build-up of “parked” capital, a historical setup for… Read The Full Article Bitcoin’s Link to Nasdaq Becomes “One-Sided,” Mimicking 2022 Bear Market On Coin Edition .
