BTC as expressed in the NASDAQ

There have been many claims around BTC being correlated to the NASDAQ and I think it's a matter of timeframe.

Let's express BTC in NASDAQ and make some observations:

• Certainly, during the past year of 2021, yes, BTC has been tightly correlated to the NASDAQ - the graph is practically flat.
  
• But looking at larger timescales; such as 2-5 years, BTC has massively outperformed the NASDAQ.
  
• The trend appears to be up and to the right.
  
• BTC/NASDAQ is currently on the low-end but the trend has not been broken.
  
• Since end of January 2022, the NASDAQ has been suffering while BTC has been climbing up slowly.
  

We might be witnessing the early stages of a decoupling between the NASDAQ-BTC again, as has happened before in Q1-Q4 2017, Q1-Q2 2019, Q3-Q4 2020.