- Stockton spoke on CNBC about the correlation between BTC and Nasdaq 100.
- She believes bitcoin must be above $25,000 in order to be attractive.
- Bitcoin is up approximately 40% YTD and Nasdaq100 about 11%.
So far, bitcoin has meaningfully outperformed the Nasdaq 100 this year – up roughly 40% at writing versus a significantly narrower 11% gain in the tech-heavy index.
Katie Stockton’s remarks on CNBC
BTC held up in the back half of the month despite the U.S. Bureau of Labour Statistics declaring otherwise. inflation It was higher than anticipated in January.
Nonetheless, Fairlead Strategies’ Katie Stockton says bitcoin and the Nasdaq 100 index will likely be more correlated again moving forward.
We suspect that with equities now declining again, we’ll get back into that higher correlation mode between bitcoin and Nasdaq 100 and other risk assets.
The day before, CoinShares data It was confirmed that inflows to short-bitcoin funds of $10 million were secured last week.
Bitcoin must surpass a key resistance
Stockton says bitcoin is trading below $25,000 resistance and must break through it to be attractive. On CNBC’s “Squawk Box”, she said:
Clearing that level will make it look better. It would also resolve any trading range to the upside, which would tell us that this range is more likely to be an inverse pattern than a continuation.
Stockton confirmed that she will remain neutral on yields and the U.S. currency for the next few months.
BTC last week was briefly seen trading just above the said price – a move that analysts at Bitfinex This could be a sign of a possible bottom.