Bitcoin Tracks Nasdaq as Tech Earnings Season Nears

Bitcoin has shown a strong correlation with the Nasdaq 100 over the past 30 days as risk-on trading returned to markets. Quarter-one earnings from major technology companies are scheduled through May 20 and coincide with the renewed alignment between the cryptocurrency and large-cap tech stocks.

Earnings dates include Tesla (reported April 22), Alphabet, Microsoft, Meta and Amazon (all due April 29 after the close), Apple (April 30 after the close) and Nvidia (May 20 after the close). Market participants are watching those reports for potential directional cues for both equities and crypto trading desks.

In the last month, Bitcoin and equities reacted similarly to news from the Middle East, strengthening a short-term alignment between the two asset classes. On April 28, Bitcoin traded at $76,747.43 after failing to clear resistance near $79,000.

Bitcoin entered 2026 under pressure. The asset fell more than 22% in the first quarter following a liquidation event in late 2025. For the first time in its trading history, Bitcoin closed both January and February in the red. Sentiment measures recovered to approximately 33 points, a level still categorized as fear. On-chain flows show larger holders increasing balances, and corporate treasuries and strategy funds adding to Bitcoin allocations.

Short-term price moves remain sensitive to derivative-market dynamics. Recent liquidation maps show the market can experience cascades that wipe out leveraged long positions or trigger short squeezes during sudden rallies. Those dynamics have contributed to days when Bitcoin tracks equity volatility closely and other days when crypto-specific liquidity events drive divergence.

The broader technology sector is reporting results amid debate over artificial intelligence and its effect on traditional revenue streams. Several large firms have reported resilience against AI-related headwinds in recent reporting cycles. Traders and institutional desks are monitoring earnings, volatility and liquidity measures to assess whether the recent correlation between Bitcoin and tech equities persists through mid-May.