Bitcoin drops to $68,000, correlation with Nasdaq turns positive
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Bitcoin price fell by 1.25% to $68,000, impacted by weak Nasdaq futures and a 2.4% drop in gold, leading to reduced market risk appetite. Since February 3, the correlation between Bitcoin and Nasdaq shifted from -0.68 to +0.72, indicating a stronger connection with tech stocks. PEPE, DOGE, and TRUMP led the decline among altcoins, while MORPHO and ZEC outperformed other tokens over the past week.
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