On March 25, Matrixport released a daily chart analysis saying that the 30-day actual correlation between Bitcoin ETF IBIT and Nasdaq is approaching 70%, a level that has only appeared twice in history, indicating that Bitcoin is currently being driven by the same macro factors as other risky assets. This high correlation mainly reflects the market's revaluation of pre-season earnings expectations for the first quarter financial report and the negative impact of tariff policy uncertainty. This has led to the recent trend of Bitcoin being highly consistent with the US technology sector. However, historical data show that such a high correlation is usually difficult to sustain, indicating that Bitcoin and Nasdaq may have a trend differentiation in the future.