The selling pressure on Bitcoin continues as the cryptocurrency drops by 3% and trades below $27,000. Bitcoin's correlation with technology stocks has weakened since the beginning of 2023, with May marking the first negative monthly closing for the year.
The Nasdaq 100 has seen an 8% increase in May, largely due to the hype around artificial intelligence. Some analysts believe that Bitcoin's decoupling from Nasdaq could benefit the asset in the long term, while others question the sustainability of Nasdaq's gains.
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