
Jakarta, Pintu News – This week, when major assets such as Gold and Nasdaq 100 showed an increase, Bitcoin actually experienced a significant decline. This phenomenon indicates that Bitcoin (BTC) is no longer moving in tandem with risky or safe-haven assets.
Over the course of this year, Bitcoin (BTC) has had a high correlation with the Nasdaq 100, with both assets usually rising or falling together. This relationship remained intact until early last week. The market mood remained positive until Tuesday after Federal Reserve Chairman Jerome Powell signaled a possible interest rate cut at the October FOMC meeting and the end of Quantitative Tightening (QT).
However, the correlation between Bitcoin (BTC) and the Nasdaq began to break sharply from 9am UTC on October 15th. On the same day, analysts from CryptoQuant, TeddyVision, pointed out two distinct trends between August 1 and mid-October that may have caused this separation.
Also Read: 5 Reasons Why Avalanche (AVAX) Price Exploded in Q4 & is in the Crypto Whale Spotlight!

According to the analysis conducted, the recent rise in Bitcoin (BTC) price is likely not due to organic spot demand. Instead, it is more due to the use of speculative leverage and synthetic exposure associated with derivatives as well as capital rotation relating to ETFs.
This phenomenon suggests that Bitcoin (BTC) market dynamics may be more influenced by technical factors and not by real adoption or demand. When markets experience uncertainty, investors tend to use derivative instruments to take advantage of price fluctuations, rather than for long-term investments. This raises questions about the sustainability of Bitcoin’s (BTC) high price.
Despite Bitcoin’s (BTC) two-week decline, the asset managed to rebound on Sunday, breaking the $108,000 mark for the first time since the decline. This shows that investor sentiment is still strong. The rapid recovery shown by altcoins also confirms this.
The strength of altcoins may indicate a diversification of interest in the crypto ecosystem, where investors are starting to look at assets other than Bitcoin (BTC). This could be an important indicator for the future of the crypto market as a whole.
This week, markets will witness the release of several important macroeconomic indicators, including the CPI data which was delayed due to the US government shutdown. In addition, manufacturing and services PMI figures and Inflation Expectations from the University of Michigan will also be released. These data will provide more insight into the future direction of the market.
Also Read: ChatGPT Prediction: XRP, DOGE & PEPE could hit an all-time high by the end of 2025!
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.