Crypto Bulls Frustrated as Bitcoin and Stocks Recouple – to the Downside

Crypto Bulls Frustrated as Bitcoin and Stocks Recouple – to the Downside


While bitcoin (BTC) has struggled mightily over the past months, with its price falling more than 20% since hitting a record high in mid-March, U.S. stocks – as represented by the Nasdaq Composite and the S&P 500 – have seemingly been on a one-way path higher.

Both of those equity averages closed in the green for the seventh consecutive day on Wednesday, with both hitting all-time highs. For the S&P 500, it was its 37th record close of 2024 and for the Nasdaq, its 27th, according to MarketWatch.

A report yesterday in The Block noted that bitcoin’s correlations with those gauges had fallen to multi-month lows – to minus 0.84

Trending: FOX NEWS CONFIRMS: There Were At Least THREE Shooters!

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!