Nasdaq (NDX)
The index of the 100 largest US technology companies, historically strongly correlated with BTC and ETH.
The Nasdaq 100 (NDX) groups the largest US technology companies. Because BTC and ETH are often treated by investors as growth assets (tech assets), their prices correlate strongly with the Nasdaq. This is especially true in a risk-on / risk-off regime driven by Fed policy and liquidity. A rising Nasdaq (a tech rally) usually pulls crypto up, while a sell-off in the tech sector is historically a headwind for BTC and ETH. It's one of the most important macro references for crypto. Note, though, that the strength of this correlation changes over time. It can be very high in liquidity crises and weaker in periods of purely crypto-native narratives (halving, idiosyncratic catalysts).
In plain words
It's the stock index of big tech companies. Crypto often moves with it. When tech rises, BTC and ETH usually do too, and vice versa.
Example
% change mode, 30d window: BTC +12%, Nasdaq +6%, VIX -20%. It is a coherent risk-on picture where the crypto rise is confirmed by macro. BTC rising while the Nasdaq falls is a less reliable move.
Also known as: nasdaq, ndx, nasdaq 100, indeks technologiczny