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Since September, the historically positive correlation between Tesla’s (NASDAQ: TSLA) share price and Bitcoin (BTC-USD) has broken down, according to a It's a familiar scenario to start the week as Bitcoin follows TSLA downhill after rallying overnight. Bitcoin (BTC) tested $65,000 as support as United States markets The report identifies $61,500 as a critical level to watch, warning that if Bitcoin trades below this point, prices could potentially drop to the low $50,000s or even Bitcoin broke $60,000 today for the first time since September 18 when it rallied with other assets following the Fed's 50 basis point rate cut. Bitcoin has lost over 16% in April, on track for its worst month since November 2025. BTC could drop to the mid-to-low $50,000 region, Ledn CIO said.

Bitcoin Down: BTC Slumps Below $60K as Tesla (TSLA) Stock Drops 3%

Bitcoin (BTC) has fallen below $60,000, marking its first dip below this key level since September 18th. This downturn coincides with a 3% drop in Tesla Inc. (TSLA) stock price, raising concerns about market stability. Is there a correlation between these two seemingly disparate assets?

The Tesla-Bitcoin Connection: A Broken Correlation? Since September, the historically positive correlation between Tesla’s (NASDAQ: TSLA) share price and Bitcoin (BTC-USD) has broken down, according to a recent analysis. While once moving in tandem, recent market activity suggests a divergence. It's a familiar scenario to start the week as Bitcoin follows TSLA downhill after rallying overnight. This decoupling raises questions about the factors influencing each asset individually.

Critical Support Levels for Bitcoin Bitcoin (BTC) tested $65,000 as support as United States markets opened. The report identifies $61,500 as a critical level to watch, warning that if Bitcoin trades below this point, prices could potentially drop to the low $50,000s. Bitcoin broke $60,000 today for the first time since September 18 when it rallied with other assets following the Fed's 50 basis point rate cut.

Worst Month Since November 2025? Bitcoin has lost over 16% in April, on track for its worst month since November 2025. Market analysts are closely monitoring the situation, with some predicting further downside. BTC could drop to the mid-to-low $50,000 region, Ledn CIO said.

What's Next for BTC? As Bitcoin navigates this period of volatility, investors are urged to exercise caution and stay informed. Keep an eye on key support levels and market indicators to make informed decisions. The future trajectory of BTC remains uncertain, but careful analysis can help mitigate risk.

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