The Crypto Weekly Lookout: April 18th, 2022 edition
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Earnings season is now upon us. The key question is will the stock market gyrations carry over into the world of crypto this week?
Tech bellwethers Netflix and Tesla are set to report earnings in the coming days. Netflix will report results on Tuesday after market close and Tesla will report results on Wednesday after market close.
According to bitcoin broker NYDIG, the rolling 90-day correlation between Bitcoin and the Nasdaq has recently broken out above 0.6 (the closer to 1, the stronger the correlation). We’ll just have to wait and see if there’s a strong linkage between tech stocks and cryptocurrencies, but the odds seem better than average.