“Bitcoin has really bound itself to the Nasdaq in terms of correlation, and if the Fed keeps hiking rates and if the market believes [it is] going to hike rates, recession or not, Nasdaq suffers in the short term,” said Bob Iaccino, chief strategist at Path Trading Partners and co-portfolio manager at Stock Think Tank. “And if this correlation continues, then crypto suffers, too.”
Source: https://www.coindesk.com/markets/2022/04/26/crypto-markets-direction-during-a-recession-might-depend-on-nasdaq/?utm_medium=referral&utm_source=rss&utm_campaign=headlines