Bitcoin continues to show resilience, trading around $108,600 after nearing its all-time high of $112,000 recently. A recent analysis noted that the surge in Bitcoin's price coincided with a high occurrence of short liquidations, suggesting that investors were buying to cover leveraged short positions. Bitcoin's correlation with traditional markets, particularly technology stocks, remains high, with a correlation coefficient of 0.81 with the Nasdaq Composite. However, it has begun to diverge from its previously established 'digital gold' narrative, now showing a negative correlation with gold. Despite volatility, Bitcoin has performed better than major tech stocks like Apple and Alphabet which are impacted by tariff policies. As market focus shifts toward upcoming trade deals, there is potential for Bitcoin to decouple from equities, especially as tariff concerns persist.

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