Bitcoin: Dowd Flags NASDAQ Convergence Trade

Latest Update
9/2/2026 2:01:00 PM

<a href="https://xpertsstudio.com/<a href="https://xpertsstudio.com/bitcoin-under-pressure-as-etf-outflows-and-us-rate/” title=”Bitcoin under pressure as ETF outflows and US rate”>bitcoin-price-tests-77k-as-bullish-reversal-signals-build/” title=”Bitcoin Price Tests $77K as Bullish Reversal Signals Build”>Bitcoin: Dowd Flags NASDAQ Convergence Trade

Bitcoin at $77248.91 shows broken NASDAQ correlation since October as Edward Dowd eyes AI bubble unwind driving recession then Fed printing.

Analysis

Bitcoin correlation with the NASDAQ has collapsed from near 1.0 to 0.6 since October last year, Edward Dowd told @CryptoMichNL, after BTC posted its historic selloff while equities kept climbing.

The math-driven former BlackRock manager sees only two paths to restore the long-term link: either BTC rallies sharply or the NASDAQ falls to meet it, and Dowd bets on the latter given stretched AI valuations and mounting leverage in the system.

On the 4h chart BTC trades at $77248.91 inside the Bollinger band with upper resistance at $79269.71 and lower support at $76807.42; the bearish EMA50 at $77527.21 caps price while the EMA200 at $71800.65 offers deeper structural support, RSI at 42.05 stays neutral and MACD at -290.26 confirms the death cross, pointing to a counter-trend bounce that still needs key levels reclaimed before any sustained move.

Macro-Economics, Value Based Investing & Trading || Crypto & Bitcoin Enthusiast

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Source: blockchain.news