Bitcoin News Today: BTC-Nasdaq Correlation Strengthens but Momentum Remains Weak

Key TakeawaysBitcoin price recovers some ground to trade above $95,000 after a steep weekend declineTech-sector correlation strengthens, with BTC–Nasdaq 100 30-day correlation near 0.80Market momentum indicators show mixed signals and low directional confidence BTC Price Stabilizes After Losing Year-to-Date GainsOn Sunday, BTC fell to a low of $93,029 down 25% from its all-time high in October. It had started this year at $93,507.Data now shows BTC trading around $95,660, indicating a modest return of bullish momentum compared with Sunday’s lows.Despite the U.S. government reopening after a prolonged shutdown, any macro-relief from this failed did not materialize in the digital asset markets. Bitcoin-Nasdaq Correlation StrengthensData also shows that Bitcoin’s 30-day correlation with the Nasdaq 100 has climbed to ~0.80, the highest since 2022 and the second highest in nearly a decade. The five-year correlation remains positive at 0.54, reinforcing the view that Bitcoin is increasingly acting like a leveraged tech asset rather than a traditional store-of-value.Source: NewhedgeIn contrast, BTC’s correlation with gold remains near zero, emphasizing a continued decoupling from traditional safe-haven instruments. Market Indicators Show Mixed MomentumTechnical data from the image reveals that oscillators and moving averages present a divergent setup, signaling low conviction in short-term direction.Moving Averages SnapshotAll major short-, mid-, and long-term EMA/SMA levels sit above Bitcoin’s current price.Source: TradingViewThis setup reflects ongoing downward pressure and a market still trading below key technical baselines. Whale Activity and Macro Factors Shape Market ToneAnalysts note that large-holder distribution has risen, but Glassnode classifies this as typical late-cycle profit-taking, not a mass exit. This aligns with broader crypto market behaviour, where ETH and SOL remain 7.95% and 28.3% down on the year.Macro influences persist as well. While the pro-crypto U.S. administration has energised institutional interest and ETF participation, ongoing concerns about tariff expansion and the extended government shutdown contributed to repeated double-digit retracements. BTC and Market Outlook: Cautiously OptimisticAnalysts remain divided on whether the classic four-year cycle remains intact. Bitwise CIO Matt Hougan argues that sound fundamentals, including growing ETF adoption, stablecoin expansion and tokenization trends, build a constructive long-term case for digital assets.In the near term, traders are watching:$93,000 as immediate support.• • Key moving averages, especially the EMA/SMA clusters above $98,000, as potential barriers amid recovering sentiment