Derived from Cryptonews, the Nasdaq has surged 21.86% in 2025, nearly ten times Bitcoin’s 2.96% gain. However, crypto market maker Wintermute argues that Bitcoin’s underperformance and sensitivity to stock market losses signal a maturing bottom formation. The firm notes Bitcoin’s negative performance skew, where it falls more sharply on Nasdaq down days than it rises on up days, is at its highest since late 2022. Wintermute suggests this asymmetry is a precursor to a potential BTC price recovery.
Nasdaq Surpasses Bitcoin by 10x in 2025 Gains, Wintermute Sees BTC Bottom Forming
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