Bitcoin and Nasdaq 100 move in tandem

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Bitcoin was once touted as “digital gold” – a safe haven from traditional market turmoil. But 2024 tells a different story. The cryptocurrency is moving in lockstep with the Nasdaq 100, home to America's biggest tech companies.

This synchronised movement reveals something crucial about Bitcoin's true nature. Far from being a hedge against market uncertainty it's behaving like any other risk asset. When investors feel confident they buy Bitcoin and tech stocks. When they get nervous they sell both.

Now Volatility Shares, a Florida investment firm is planning to capitalise on this relationship. They're proposing ETFs that would give investors double exposure to both assets. For every $100 invested you'd get $100 of exposure to the Nasdaq 100 and another $100 to Bitcoin.