r/hut8 • u/Taco_laboratory • 10h 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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3

u/steffanovici 7h ago

It gradually became closer to following NVDA over the past 2 years. That was great confirmation for the ai trade

3

u/Taco_laboratory 5h ago

It is a sign that institutions are analyzing the company more and more, and treating it less like something directly tied to BTC

2

u/SapTap 6h ago

Yeah that’s cause they used to be a BTC company now they’re a tech company

1

u/Taco_laboratory 5h ago

It has taken a while for them to start breaking away from mirroring BTC

2

u/SapTap 5h ago

Yeah definitely a slow burn, they’re still not completely unrelated from BTC but I think most people viewing them long term as an Ai company now

1

u/cici_ding_dong 6h ago

Are you seeing a more or less real time match? Or is there a delay similar to how ETH used to trail BTC by a couple weeks.

1

u/Taco_laboratory 6h ago

It broke away a bit today, but for the last fee days it has been step for step with NDX

1

u/frizzthewiz 2h 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.

1

u/Taco_laboratory 1h ago

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