Bitcoin's Lagging Price May Soon Catch Up With Nasdaq

Nasdaq's impressive streak has been drawing attention to the broader market's correlation with cryptocurrencies, particularly Bitcoin. Analysts point out that Bitcoin tends to lag behind the Nasdaq by 2-3 weeks before experiencing a significant surge in price.

Historical parallels suggest that Bitcoin is undervalued compared to gold and oil, setting it up for a potential catch-up move. In past cycles, Bitcoin has seen gains of over 1,000% six months after lagging behind the Nasdaq.

The technical confluence on Bitcoin's 4-hour chart shows controlled bullishness, with a golden cross on MACD and support from the EMA50. However, some signs of overbought conditions are emerging, including a neutral RSI reading that may tip into overbought territory on any further push.