[Analysis: Bitcoin's Correlation with U.S. Tech Stocks Hits Nearly Three-Year High] According to The Kobeissi Letter citing Bloomberg data, Bitcoin's 30-day correlation with the Nasdaq 100 Index recently rose to approximately 0.80, marking the highest level since 2022 and the second-highest in nearly a decade. This correlation has mostly remained positive over the past five years, with only a brief dip into negative territory in 2023. Currently, Bitcoin's five-year average correlation with the Nasdaq stands at 0.54, while its correlation with cash and gold is close to zero. Analysts point out that Bitcoin is increasingly mirroring the performance of high-leverage tech stocks.