Recently, I noticed an interesting phenomenon: technology stocks and gold are both declining simultaneously, and the sharp drop in cryptocurrencies has also followed. Especially Bitcoin; this wave of decline seems to have a higher correlation with the Nasdaq, shifting from a negative correlation to a positive one, which is quite uncommon before.

It feels like the logic behind the recent plunge in cryptocurrencies has changed, no longer being so independent. The current price of BTC is at 72.68K, still up 1.50% in the past 24 hours, but the overall trend is clearly more influenced by traditional markets. Behind the crypto market's sharp decline, it may be due to a shift in market risk sentiment, affecting both tech stocks and cryptocurrencies.

This change in correlation is worth paying attention to, as it may indicate that the linkage between the crypto market and traditional finance is becoming increasingly tight.