Glassnode Lianchuang: Cryptocurrencies usually get a boost after
Yann Allemann, co-founder of blockchain analysis company Glassnode, posted on social media that cryptocurrencies are usually boosted after Nasdaq stagnates, a trend that suggests that during times of Nasdaq's poor performance, investors may Move funds to riskier assets, namely cryptocurrencies. Yann Allemann called the trend back to 2019, noting that it took 186 days for the Nasdaq 100 to regain the 7,600 level, a sign associated with pre-recession fears.
In comparison, it took Bitcoin about 220 days to reach the $6,500 level. But according to Allemann, once Bitcoin started to climb, it outperformed Nasdaq by a large margin, and then the trend moved to other digital assets such as Ethereum (ETH), Solana (SOL), Dogecoin ( DOGE) and NFT.
In comparison, it took Bitcoin about 220 days to reach the $6,500 level. But according to Allemann, once Bitcoin started to climb, it outperformed Nasdaq by a large margin, and then the trend moved to other digital assets such as Ethereum (ETH), Solana (SOL), Dogecoin ( DOGE) and NFT.
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