Analyst Rekt Fencer has published a chart comparing bitcoin with the Nasdaq on a 3-day line. On that chart, he highlights three major drawdowns in the bitcoin-to-Nasdaq ratio. The first is around -84.9% and dates to 2018. The second is around -80.7% and dates to 2022. The third is the current reading, estimated at roughly -54.3% in 2026. All three figures are marked as approximate levels on the chart. According to the note carried by ChainCatcher, Rekt Fencer points out that after the first two severe underperformances against the Nasdaq, bitcoin did not stay weak. Instead, it delivered very strong independent rallies, and the price subsequently shot up in a straight line. He now observes that the ratio has dropped sharply again and argues that history may be repeating itself for a third time. In his assessment, the bottom is close and bitcoin will move higher again. His view is based on the repeated drawdown pattern visible in the 3-day ratio chart.

BlockBeats reported on August 30 that analyst Rekt Fencer released a 3-day ratio chart of Bitcoin versus the Nasdaq. The chart marks three major drawdowns in the ratio: around -84.9% in 2018, around -80.7% in 2022, and roughly -54.3% in the current 2026 stretch. Rekt Fencer said that the previous two times Bitcoin lagged the Nasdaq by such a wide margin, the asset followed up with very strong independent rallies, and prices moved sharply higher in a straight line after those points. He now points out that the ratio has pulled back dramatically once again. In his view, the same pattern could play out a third time. He believes the bottom is already close, and Bitcoin is likely to strengthen again in the period ahead. The remarks were based on the three-day ratio chart and the historical behavior of Bitcoin following deep relative underperformance against the Nasdaq. The analysis was relayed by BlockBeats.

Pasqal, the French neutral-atom quantum computing company, began trading on Nasdaq on Aug. 28 after completing its merger with Bleichroeder Acquisition Corp. II at an implied pre-money valuation of about $2 billion. The deal delivered roughly $360 million in cash, and the stock surged from its $9.79 reference price to close at $19.11, up about 95% on the first trading day after rising 52% by midday in New York. The debut lands in a period when major quantum computing companies across superconducting, trapped-ion, and neutral-atom approaches are reaching public markets in quick succession, following IonQ’s 2021 SPAC listing, Quantinuum’s June IPO, and IQM’s July listing. Pasqal’s valuation stands out because the company reported 2025 revenue of 16.5 million euros, up from 3.5 million euros in 2024, with total revenue of about 23.7 million euros including government subsidies. At that level, the company trades at roughly 100 times 2025 revenue. The market reaction has sharpened a familiar question in quantum investing: whether buyers are paying for a business that has already solved commercialization, or for the possibility that it eventually will. The company’s cloud-accessible quantum processing units, customer roster, and neutral-atom roadmap support that case, but its filing also lays out execution and commercialization risks, along with a French approval requirement for significant ownership by non-French or non-EU investors.

Grayscale’s head of research, Zach Pandl, said Bitcoin may be starting to trade less like a high-beta risk asset after spending much of the past year moving in step with AI-fueled gains across risk markets. According to the figures he cited, Bitcoin’s 90-day correlation with the Nasdaq 100 has dropped from above 60% to about 33%, while its correlation with gold has climbed from slightly above zero at the start of the year to more than 50%. Grayscale said the shift may signal renewed investor focus on Bitcoin’s scarcity, monetary independence, and role as a store of value. Pandl made the comments as U.S. federal debt recently surpassed $40 trillion, with persistent fiscal deficits and rising long-term Treasury yields drawing attention back to assets that may hedge against deterioration in fiscal and monetary fundamentals. He also said Bitcoin has no central issuer, a transparent issuance schedule, and a fixed maximum supply of 21 million coins. In that setting, he said, Bitcoin could serve as a scarce and more liquid alternative to gold, while Bitcoin and other scarce digital assets may be entering a more favorable market phase.

Evernorth Holdings, an XRP treasury company, said its S-4 registration statement filed with the U.S. Securities and Exchange Commission has been declared effective, clearing the way for the next steps in its planned merger with special purpose acquisition company Armada Acquisition Corp. II and a Nasdaq listing. The company said the effectiveness of the registration statement does not mean the merger has closed, and the transaction still requires shareholder approval. Evernorth plans to operate as a regulated digital asset treasury company focused on giving public market investors exposure to XRP. It also said it intends to allocate capital to XRP-related infrastructure and treasury strategies aimed at increasing the amount of XRP represented on a per-share basis. The company expects the merger to close in late Q3 or early Q4 this year. After completion, the combined company is expected to trade under the ticker XRPN. The S-4 covers up to 34,499,992 shares of Evernorth Class A common stock and 11,499,992 related warrants. Investors in Evernorth include Ripple, Arrington Capital, SBI Group, Pantera Capital, Kraken, and GSR.

U.S. stocks opened mixed on Aug. 27, according to market data cited by ChainCatcher from Gate. The Dow Jones Industrial Average fell 49.62 points at the open, down 0.09% to 53,414.26. In contrast, the S&P 500 opened 18.93 points higher, up 0.25% to 7,694.76. The Nasdaq Composite also started the session in positive territory, rising 190.55 points, or 0.73%, to 26,320.75. The figures show a split start for the three major U.S. stock indexes, with gains in the broader market and tech-heavy benchmark outweighing the decline in the Dow at the open.

U.S. stocks opened with mixed performance on Aug. 27, according to market data from BIT (Bit.com). The Dow Jones Industrial Average slipped 0.1%, while the S&P 500 gained 0.34% and the Nasdaq rose 0.87% at the open. The move left tech shares leading the early session. Nvidia (NVDA.O) was up about 6%. The report also said the company is expected to post 70% revenue growth next year. No other stock or sector details were provided in the source material. The update was published by BlockBeats as a brief market note and focused on the opening read for the three major U.S. equity indexes along with Nvidia’s early gain.

Baidu said in a Hong Kong stock exchange filing on Aug. 27 that it will voluntarily convert its status on the Hong Kong Stock Exchange from secondary listing to primary listing, with the change taking effect on Sept. 1, 2026. From that date, the company will hold a dual primary listing in Hong Kong and on Nasdaq. The filing also said the stock marker “S” will be removed from the company’s stock short names in both the Hong Kong dollar and renminbi counters on the Hong Kong exchange after the conversion becomes effective. According to a report cited from IT Home, Baidu had previously maintained only a secondary listing in Hong Kong, with its listing status tied to Nasdaq in the United States, and it did not meet the requirements for inclusion in Stock Connect. That meant mainland Chinese investors were unable to invest directly through that channel. The report added that if Baidu later secures Stock Connect eligibility, it could help improve trading liquidity, broaden the investor base and give the company more flexibility across the two capital markets.