The recent surge in Bitcoin's correlation with the Nasdaq, reaching 0.70, suggests a stronger link to traditional equity markets, as noted by Matrixport. This indicates Bitcoin's price movements are increasingly influenced by macroeconomic factors and tech stock trends, raising concerns about its independence as a crypto asset. While this integration may enhance market predictability, it also diminishes Bitcoin's role as a decentralized, uncorrelated store of value. However, historical data shows such correlations can be short-lived, and Bitcoin may decouple again, especially during volatility. The ongoing influence of institutional adoption and regulatory developments continues to shape this dynamic, challenging Bitcoin's "digital gold" narrative.