Wintermute’s latest report notes that Bitcoin’s correlation with the Nasdaq remains as high as 0.8 but shows a “downside-only” bias — sluggish during equity rallies yet amplifying declines. The analysis suggests this structural weakness reflects capital and narrative flows shifting toward U.S. equities amid fragile crypto liquidity. Historically, such patterns have appeared near market bottoms rather than tops, indicating investor exhaustion rather than euphoria.https://t.co/tFTh7Cglf0 ...