Bitcoin Primed to Rally to $56K as Nasdaq Breaks Out of Bull Flag, Chart Analyst Says

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Bitcoin (BTC) has rallied almost 50% within the first seven weeks of the yr, reaching a six-month excessive of $24,900, with outdoors forces just like the sentiment in conventional markets largely supportive. Lately, the crypto market and Wall Road’s tech-heavy Nasdaq index have grown resilient to the Federal Reserve’s (Fed) angst and the ensuing uptick in Treasury yields. Bitcoin’s 90-day correlation coefficient with Nasdaq has increased to 0.75, indicating the 2 property are shifting in tandem.

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