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Posted May 20, 2026 at 11:00 am
Bitcoin’s recent price action has retail traders questioning its status as a non-correlated asset. After kicking off a rally in early April that pushed prices above $80,000 by May 6th, Bitcoin has drifted back toward the $77,000 level. But what stands out most to market watchers is its persistent, strong correlation with the Nasdaq. In this video, Jim Iuorio of JI Financial breaks down why Bitcoin’s lockstep movement with tech equities complicates its reputation as a safe-haven asset or dollar hedge. We also explore the regulatory landscape, including the recent advancement of the CLARITY Act. Furthermore, Jim examines Bitcoin’s surprising resilience in the face of an aggressive U.S. interest rate environment. Traditionally, elevated rates create headwinds for non-interest-bearing assets, yet Bitcoin has maintained its footing. Finally, we look ahead to Nvidia’s upcoming earnings report on May 20th. With Nvidia making up roughly 8% of the Nasdaq, its performance could create significant reverberations, potentially dragging the index—and highly correlated assets like Bitcoin—in either direction.
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Originally Posted My 19, 2026
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