What happens to Bitcoin if Nasdaq falls further?
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- Bitcoin recovered 6.5% from a low near $59,100 to an intraday high of about $62,950 on Sunday, staying above the $60,000 psychological support level.
- Bitcoin is trading above its 200‑week simple moving average (~$61,880) and eyeing the 50‑week SMA near $92,630 as the next major upside target.
- Nasdaq fell more than 4% on Friday — its steepest one‑day drop since April 2025 — and its weekly RSI slipped to 62.46, hinting at a possible correction toward the 20‑week SMA around 22,905.
- Bitcoin’s daily RSI hit 14.70 on Saturday, the lowest reading ever recorded, indicating a record oversold condition relative to the Nasdaq.
- Bitcoin’s ratio to Nasdaq entered a record oversold zone, suggesting the cryptocurrency is cheap compared with the index.
Why it matters: Bitcoin appears cheap relative to a falling Nasdaq, while risk‑on assets feel pressure from the index’s decline as the Nasdaq’s slide deepens.
