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Bitcoin and Nasdaq's Correlation Emerges as BTC's Value Surges

June 24 (Cointime) - Bitcoin's correlation with Nasdaq has re-emerged as BTC's value surged, with intriguing data from Ecoinometrics revealing an emerging correlation between the two. This new pattern has captivated observers, shedding light on BTC's overall trajectory and sentiment among traders. The recent surge in applications for a Bitcoin ETF by various financial institutions has sparked a notable increase in social buzz surrounding the king coin, with BTC trading at approximately $30,700 and experiencing a significant uptick in value since the news broke. The ongoing price trend of BTC presents a favorable outlook for short-term holders who entered the market before the inception of this trend, with Santiment's 30-day Market Value to Realized Value (MVRV) metric indicating a noteworthy shift toward profitability.

Bitcoin Bitcoin $93,727.33
-1.31%
Bitcoin Nasdaq
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