Current Bitcoin-Nasdaq Correlation Today
The 30-day rolling correlation between Bitcoin and the Nasdaq 100 is 0.72 as of February 27, 2026, indicating a "correlated" regime. BTC and Nasdaq are moving in lockstep — the "high-beta tech proxy" narrative is dominant. The 30D correlation spike to +0.72 is the highest since 2022.
Last updated: Feb 27, 2026
30-DAY BTC-NASDAQ CORRELATION
0.72
Regime: CORRELATED
Historical Context
90D Correlation
0.15
180D Correlation
0.38
3Y Baseline
0.45
BTC 30D Return
+8.7%
QQQ 30D Return
+9.1%
30D Spread
-0.4pp
BTC/QQQ Ratio
119.4
Current Quadrant
btc up ndx up
What's Driving the Current Value
18% of BTC held by institutions via ETFs creates structural linkage to equity risk appetite, keeping correlation elevated.
Both BTC and Nasdaq are sensitive to Fed rate expectations. Shared macro drivers keep correlation elevated during uncertainty.
Both assets declining simultaneously, but BTC falling faster signals high-beta behavior rather than independent macro asset status.
Frequently Asked Questions
- What is the Bitcoin-Nasdaq correlation?
- The BTC-Nasdaq correlation measures how closely Bitcoin and the Nasdaq 100 index move together over a rolling window (typically 30 or 90 days). A correlation of +1 means they move in perfect lockstep; -1 means they move in opposite directions; 0 means no relationship.
- Why does Bitcoin correlate with the Nasdaq?
- Bitcoin correlates with the Nasdaq primarily because both are sensitive to liquidity conditions, risk appetite, and Fed rate expectations. Since the introduction of spot Bitcoin ETFs, institutional ownership has created additional structural linkage to equity markets.
- Is high BTC-Nasdaq correlation good or bad?
- High correlation reduces the diversification benefit of holding both assets. For portfolio construction, a lower or negative correlation between BTC and equities would be more valuable. High correlation suggests BTC is behaving as a leveraged tech proxy rather than an independent asset class.
- What is the historical average BTC-Nasdaq correlation?
- The 3-year average 90-day correlation between BTC and Nasdaq is approximately 0.45. The correlation has ranged from -0.68 to +0.72 in recent months, showing significant regime-dependent variation.
Data Sources
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This page is for research and educational purposes only. Not investment advice. Data may be delayed. See methodology for details.