According to Bloomberg, during the last rate hike cycle by the Federal Reserve, Bitcoin and other speculative investments plummeted as expectations of interest rate hikes suppressed risk appetite. Now, with renewed optimism in the market that borrowing costs may soon decline, supporters of the largest cryptocurrency by market cap argue that Bitcoin is more akin to high-growth assets like tech stocks.This week, the 90-day correlation coefficient between digital currencies and the tech-heavy Nasdaq 100 index reached 0.46, the highest level since the end of August last year. A coefficient of 1 indicates that assets move in sync, while -1 indicates they move in opposite directions. After the Federal Reserve began raising the target interest rate for overnight interbank loans in early 2022, the correlation coefficient surged above 0.8, marking the highest level since this digital currency entered the mainstream.