「BTC OG Insider Whale」 Proxy: ETH Exhibits Tech Stock Beta Characteristics, Still Highly Correlated with Nasdaq 100 Index

BlockBeats News, December 25th, on-chain whale agent Garrett Jin posted, "Last week's AI stock sector sell-off in the U.S. was primarily driven by two factors: emotional misinterpretation by sell-side analysts of Broadcom's CEO comments; and the narrative surrounding extreme ultraviolet lithography 'Manhattan Project.' These two points are essentially just noise in the next 6–12 months."

This week, AI stocks rebounded overall, even including previously weakest performers, such as Oracle still hampered by debt issues. This typically signals the end of panic selling and the formation of a temporary bottom. The Nasdaq 100 index has fully recovered from the declines triggered by these 'bearish headlines.'

Given that ETH has a distinct tech stock Beta (moves in the same direction, higher volatility) attribute, its correlation with the Nasdaq 100 index remains at a high level."