🔷 Nasdaq in correction: $BTC waiting for $58,000?
Cowen: if Nasdaq returns to its summer lows, Bitcoin will go there too.
On November 5, the Dow fell by about 1,800 points. Nasdaq entered correction territory (down more than 10% from its peak) and erased all its gains since the election. The comparison with 2018: after the election, the S&P rose 2.1%, and then three factors came into play. Now, he says, the market is pricing in two more rate hikes by the end of the year, tariffs are fueling inflation, and fears around AI are weighing on the tech sector. Target: $58,000, the 2026 low.
This is a conditional scenario, not a foregone conclusion. But the link with Nasdaq is back in focus. Try explaining to investors why they should stay exposed to risk while stocks are tumbling.
Are you expecting $58,000, or do you think BTC will hold up? 👇
Cowen: if Nasdaq returns to its summer lows, Bitcoin will go there too.
On November 5, the Dow fell by about 1,800 points. Nasdaq entered correction territory (down more than 10% from its peak) and erased all its gains since the election. The comparison with 2018: after the election, the S&P rose 2.1%, and then three factors came into play. Now, he says, the market is pricing in two more rate hikes by the end of the year, tariffs are fueling inflation, and fears around AI are weighing on the tech sector. Target: $58,000, the 2026 low.
This is a conditional scenario, not a foregone conclusion. But the link with Nasdaq is back in focus. Try explaining to investors why they should stay exposed to risk while stocks are tumbling.
Are you expecting $58,000, or do you think BTC will hold up? 👇
