Bitcoin decouples from stocks—Is BTC poised for new ATH?
The post Bitcoin decouples from stocks—Is BTC poised for new ATH? appeared on BitcoinEthereumNews.com.
Bitcoin outpaced the S&P 500 with a 3.7% gain, showing signs of reduced stock market correlation. Strong support at $95K-$98K and minimal resistance above $ 104K positioned BTC for potential new highs. Bitcoin [BTC] showed early signs of decoupling from equities, surging ahead of the S&P 500. As of press time, Bitcoin was priced at $100,839, with a 1.39% increase over the past 24 hours and a 7.16% rise in the last seven days. This marks an important shift, as analysts suggest that reduced correlation to traditional markets could signal the start of a new bull market. Bitcoin decouples from S&P 500 According to Santiment, Bitcoin has begun to outperform the S&P 500 in January 2025. While Bitcoin posted a 3.7% gain in a single day, the S&P 500 recorded a modest 0.4% increase, signaling divergence. Santiment on X (formerly Twitter) stated, “For most of the past three years, cryptocurrency has been perceived as a ‘high-leveraged tech stock,’ but current data suggests that BTC may break away from stock market fluctuations.” Source: Santiment Historically, crypto markets have experienced their strongest bull runs when they have a low correlation with equities. Analysts believe that if Bitcoin can sustain its momentum and operate independently of macroeconomic factors, it could pave the way for new all-time highs in 2025. Strong support and minimal resistance levels Crypto analyst Ali noted that Bitcoin is well above a critical support zone between $95,400 and $98,400, where 1.77 million addresses purchased 1.53 million BTC. This cluster of buyers represents a strong demand zone that could prevent significant price declines. On the upside, Bitcoin faces minimal resistance, with only 107,000 BTC held by 102,168 addresses between $104,700 and $105,770. Analysts expect further upward movement if BTC breaks through this light resistance zone, as selling pressure remains limited at…
Filed under: News - @ January 8, 2025 8:25 am