Ahmet Bedirhan Arvas 
The correlation between Bitcoin and NASDAQ, which has been akin to a synchronized dance over the years, has recently been disrupted. An analysis revealed that the 40-day correlation between Bitcoin and NASDAQ has dropped to zero. This indicates that the close connection between the two financial giants has weakened, and they are now taking different steps.
Analysts attribute this divergence to the possibility of a spot Bitcoin ETF emerging in the United States. The Securities and Exchange Commission (SEC) evaluating around a dozen applications by January 10 has heightened expectations. This potential entry point has captivated cryptocurrency investors and severed the tight link with NASDAQ fluctuations.
The significance of this change is undeniable. If Bitcoin truly breaks free from the influence of NASDAQ, it gains a critical power: diversifying the portfolio. In simpler terms, Bitcoin’s fate could differentiate from the stock market, providing investors with valuable protection against the volatility of traditional markets.
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However, this newfound independence may not be a perpetual solo performance. Research firm Fairlead Strategies, which conducted the correlation analysis, expects the low correlation to continue for some time. Factors such as the potential approval of a spot ETF and the upcoming Bitcoin halving event (halving of Bitcoin mining rewards) could allow Bitcoin to move according to its internal pulse in the coming period.
So, investors, fasten your seat belts. The crypto tango has made a fascinating turn. As Bitcoin departs from the embrace of Nasdaq, entering a new era of potential value as a refuge from the ever-shifting sands of traditional markets, it is embarking on a period of newfound independence, moving to the beat of its internal rhythm.