The post Is Bitcoin Breaking Up with the Stock Market? Latest Trends Suggest a Shift appeared on BitcoinEthereumNews.com.

In recent days, the cryptocurrency markets have witnessed a peculiar anomaly, notably with Bitcoin’s price movements diverging from traditional financial indices such as the S&P 500.  This observation, highlighted in the latest report from Santiment, a leading provider of market intelligence, suggests a distinct shift in the correlation patterns that have predominantly linked the behavior of cryptocurrency and stock markets post the FTX collapse in 2022. Bitcoin has in the past broadly tracked the performance of major stock indices, as cryptocurrency becomes increasingly interlaced with mainstream retaliation markets. Despite the-way-too-hot S&P 500 and -stock-to-flow considered-accelerating Bitcoin evolution Bitcoin continues to go down, along with a bunch of worries around what layer is making this gap happen? Analyzing the Current Market Dynamics At this moment, Bitcoin is trading beneath the crucial $65,000 level, reversing hard. In week-on-week terms, the largest digital currency has lost around 3.4%, while for the past 24 hours it has slid 2.5%, to $ 64,448.  What is truly interesting is the fact that while the S&P 500 has been going up, Bitcoin has been absolutely crashing — which could signal the start of the long-predicted crypto decoupling from the traditional stock market. For investors and market analysts, this trend sparks several considerations. The divergence may be a sign that – like older, more traditional markets – the crypto market is becoming more mature, with individual cryptos falling less in line with wider economies than they used to.  Or maybe this reflects more broadly a growing market view of crypto as a speculative investment type, as opposed to something solid and safe that’s just an extension of traditional finance streams. 📊 Bitcoin’s plummet has come in spite of the S&P 500 continuing to roll. This split between sectors has been a surprisingly rare occurrence ever since the dust…

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Filed under: News - @ June 19, 2024 1:20 pm