Bitcoin is now highly correlated with the Nasdaq (around 0.6 recently) and is being traded like a high-risk tech stock.
Concerns about a slowdown in AI data centers are directly weighing on chipmakers and tech stocks. As risk appetite declines, Bitcoin is tumbling along with them.
Some miners are shifting to AI computing, leveraged long positions are being liquidated, and ETF outflows are further amplifying the decline.
It’s not that Bitcoin itself needs those facilities—the market has simply tied the two together.
Concerns about a slowdown in AI data centers are directly weighing on chipmakers and tech stocks. As risk appetite declines, Bitcoin is tumbling along with them.
Some miners are shifting to AI computing, leveraged long positions are being liquidated, and ETF outflows are further amplifying the decline.
It’s not that Bitcoin itself needs those facilities—the market has simply tied the two together.