Bitcoin and the Russell 2000 Index, which is centered on small and mid-cap stocks in the U.S., are following a similar trend.

An analysis has emerged that Bitcoin will follow a similar trend to the US Russell 2000 Index. On the 29th (local time), The Block reported that JP Morgan has announced that it will hold a "Bitcoin
"The majority of cryptocurrency projects rely on venture capital (VC), and blockchain is a very important technology," he said.
"This is because there are many small companies dealing with technology," JP Morgan said. "The correlation was particularly notable when blockchain technology led the cryptocurrency market."
The Russell 2000 Index is an index that tracks the prices of the 2,000 US stocks with the lowest market capitalization.