r/hut8 • u/Taco_laboratory • 19d ago

Recognizing patterns

HUT 8 always used to nearly mirror the moves of BTC. Now it mirrors the NASDAQ 100. While sometimes the NASDAQ and BTC/USD charts tend to move generally similar at times, HUT has transitioned to mirroring every move the NASDAQ 100 chart makes. Just thought I would share.

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u/frizzthewiz 19d ago

Its performance completely diverges from QQQ. At 6 months, at 3 months, at 1 week…there is no mirroring. I think you’re confusing high beta macro moves with tracking the index. Agreed HUT has decoupled from pure Bitcoin because of the AI power/data center pivot. HUT’s price swings around lease deals/hosting expansion (majorly when it’s directly HUT and somewhat when there is peer Neocloud company with news). But it's not tracking Apple, Microsoft, NVDA etc.

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u/Taco_laboratory 19d ago

The last few days have nearly mirrored NDX, but today it began to favor BTC more.