Cryptocurrency has experienced a significant correction since this morning, following aggressive selling in technology stocks and gold, which has fallen 2.4%. Bitcoin is currently trading at $71,500, down approximately 1.78% in the last 24 hours. Nasdaq futures also weakened, reflecting investor concerns about the impact of AI on various industry sectors.

What’s interesting is the significant change in Bitcoin’s correlation with Nasdaq—this indicator has fluctuated from -0.68 to +0.72 since early February. This suggests that Bitcoin is increasingly following the movement of tech stocks rather than moving independently as it used to. This pattern has continued to today, with most altcoins also suffering losses.

Meme coins like PEPE ( down 2.23%), DOGE ( down 1.80%), and TRUMP ( down 0.21%) lead the declines. Meanwhile, some tokens show resilience—MORPHO has risen 18% this week, and ZEC has surged 47% over the same period. Futures liquidations reached $229 billion in a single day, mostly from forced closures of long positions.

Open interest across various contracts has decreased significantly. DOGE futures lost 4% of their open interest, while LINK, AVAX, and other tokens also experienced similar pressure. Bitcoin’s dominance remains stable around 57-60%, indicating that altcoins still depend on Bitcoin sentiment even though tech stocks have recently been the main driving factor. The market is waiting for a strong bullish signal to reverse this negative momentum.