2025-12-25 09:24:03

Recently, I came across an interesting observation: the price fluctuations of Ethereum are surprisingly highly correlated with the Nasdaq 100. Industry insiders have openly stated that—ETH has evolved from a standalone asset into a chain-representative of the tech stock index rather than an independent asset.

The data indeed speaks for itself. Last week, when AI concept stocks were out of favor, ETH also declined; this week, as tech stocks rebounded, ETH quickly followed suit. This synchronization is hardly coincidental. After heavyweight tech companies like Oracle weathered debt crises, the Nasdaq quickly stabilized—ETH's movements mirrored this pattern. This phenomenon warrants deep reflection.

Why is this happening? The participation of institutional funds has changed the game. The narrative of ETH as the "world computer" has gradually taken a backseat, replaced by dual drivers: macro liquidity and market sentiment. Whenever the Nasdaq experiences sharp fluctuations, ETH's response often exceeds that of BTC. The underlying logic is quite clear—it has become deeply tied to the fate of tech stocks.

A typical example is the controversy surrounding Broadcom's CEO's remarks. A single comment about the AI industry triggered a chain reaction in the tech sector, causing ETH to plummet. When the market later realized it was an overreaction, ETH rebounded along with tech stocks. In this back-and-forth process, many investors who didn't do their homework got caught in traps.

It seems that if you only focus on on-chain data and technical updates, you're missing a key variable. To understand ETH's movements now, you must also monitor the Nasdaq 100 trend, the dynamics of leading AI stocks, and even macro policy signals. ETH is no longer just a technical asset story.

Interestingly—while the core philosophy of blockchain is decentralization and trustlessness, ETH has become the most reliant on "trust": trusting Nasdaq, trusting institutional pricing, trusting market sentiment. This is not irony; it reflects the current market reality. True participants need to recognize this—pay attention to both on-chain technological progress and off-chain capital flows and sentiment pulses. Both must be watched, both must be strong.

ETH0.02%

BTC0.6%

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BearMarketNoodler

· 8h ago

Institutional entry is like this, turning the crypto world into Wall Street's ATM. --- Honestly, holding ETH now is just betting on the Nasdaq's mood. What kind of decentralization is that? --- A single comment from the CEO of Broadcom can cause a dump, so why bother researching technical narratives? Just stare at the Bloomberg terminal. --- Those who are trapped deserve it. They didn't even see the basic correlation and still dared to go all-in. --- Ironically, the "world computer" that early evangelists dreamed of is now just a beta version of a tech stock. --- Both hands need to be strong? Ha, then you're being manipulated twice—by the Nasdaq and by sentiment. --- I've said it before, once institutions enter, the coin is no longer just a coin; it becomes a liquidity derivative. --- So the current operational logic is actually very simple—follow the Nasdaq, don't expect independence. --- This discovery wasn't too late, but those who got cut already can't get back what they lost.

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GateUser-afe07a92

· 8h ago

Ha... this is awkward, ETH now has to look at the Nasdaq's face --- Totally hijacked, the once world computer has become a tech stock follower --- I was wondering why it’s been swinging with the Nasdaq recently, turns out it was already compromised --- Once institutions come in, the entire game rules change. What about decentralization then? --- A single comment from the Broadcom CEO directly caused a crash, how passive is that? --- Damn, on-chain data is useless now, gotta keep an eye on Wall Street --- Trustless but trusting the most in the Nasdaq, the irony is just too much --- So now investing in ETH means you need to understand blockchain and watch the market charts, really exhausting --- The group of people who got trapped should be quite regretful, they didn't pay attention to macro signals

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AirdropBlackHole

· 8h ago

I already said it, ETH has long ceased to be the "world computer," now it's just a shadow coin of the Nasdaq, nothing surprising about that. Once institutions come in, the narrative completely changes. To put it plainly, it's all just a routine. So now trading ETH is like trading Nasdaq? Then I might as well just buy QZQ directly. Good sarcasm, decentralized coins end up caring the most about Nasdaq's face, this is Web3. A comment from Broadcom's CEO just crushed the market? Is this really a market? It's too fragile. On-chain data is all for show; now we still have to keep an eye on every move of Wall Street. It's exhausting.

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StableCoinKaren

· 8h ago

Institutions took over and turned ETH into a follower of the Nasdaq, which is a bitter irony.

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StakeOrRegret

· 8h ago

Wake up, ETH has long ceased to be the "world computer." --- A sneeze in the Nasdaq causes ETH to start running a fever. I've seen this coming a long time ago. --- Basically, once institutions got involved, they treat it like tech stocks, and no one cares about on-chain data at all. --- So now everyone trading ETH has to learn how to read candlestick charts? Then what's the point of decentralization? Haha. --- A single comment from the CEO of Broadcom can cause a dump. How passive is that? What about the autonomy before? --- Wait, does that mean we need to watch the Nasdaq, AI leaders, and macro policies at the same time? Might as well just buy a tech ETF for simplicity. --- Ironically, we came in to escape Wall Street's tricks, but ETH is more obedient than anyone. --- I know a few friends who got caught, just because they didn't keep an eye on these off-chain things. --- You need to be strong on both fronts. What if you can't hold onto either? Then there's really no hope.

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