BTC Recovery Lagging Nasdaq Index Performance

Matrixport experts have published a new chart comparing the Nasdaq index dynamics with the price of Bitcoin (BTC). The report raises the question of whether Bitcoin is ready to join the Nasdaq rally. According to the information provided, the index has begun to recover from a sharp drop that occurred on August 5. Tech stocks have shown confident growth since that day, despite previous negative trends.

However, BTC is still lagging behind this recovery, and its price remains below the level recorded before the fall. The authors of the report attribute a possible improvement to the upcoming speech by Federal Reserve Chairman Jerome Powell. It is expected that if his rhetoric is softer, this could stimulate the growth of the BTC rate and bring its dynamics closer to the Nasdaq.

Experts also reminded that an additional factor that could affect the cryptocurrency market was the political situation in the United States. According to the latest polls, Donald Trump is ahead of Kamala Harris ahead of the US presidential elections. Recently, the billionaire has expressed a more favorable position towards Bitcoin, which could help improve sentiment in the crypto market and stimulate a new bull rally.

Since both traditional financial markets and cryptocurrency markets are considered highly volatile and dependent on a variety of factors, including central bank decisions and political events, the future price dynamics of BTC will remain under close scrutiny by investors.

Against this backdrop, many market participants are eagerly awaiting the reaction of the Bitcoin rate to the upcoming news. In particular, they are interested to know whether the cryptocurrency will be able to use its chances to reach a new level and regain the trust of investors.