Are you seeing the market falling along with the Nasdaq? Bitcoin receded to $70,93K (fall of 2.36% in 24 hours) and gold also crashed 2.4%. What stands out most is how BTC is now correlated with the Nasdaq—correlation has risen from -0.68 to +0.72 since February. Basically, when the Nasdaq drops, bitcoin drops too. That wasn’t the case before.

Altcoins took a real hit. PEPE, DOGE and TRUMP lost between 1% and 2.5% just today. But there was a surprise: MORPHO rose 18.5% over the week, and ZEC surged 53.5% over the last 7 days. ZRO, which had plunged 16% earlier, is now recovering with +2.83%.

In derivatives, the market is calmer than before. Liquidations reached $229 billion in 24h, but panic has eased—Bitcoin and Ethereum volatility indices have fallen from this month’s highs. Open interest in futures dropped 1.5%, reaching $93 billion. DOGE led the decline with -4% in OI.

The market is waiting for a bullish catalyst. Bitcoin’s correlation with tech stocks is getting stronger, so while the Nasdaq hasn’t recovered, it’s hard for crypto to decouple. Bitcoin dominance oscillating between 57% and 60% since September.