Just shallow market correlation. Thats all. If major equities take a short dive, so does Bitcoin in the short term. When you stretch it to a 6 month timeline or longer Bitcoin simply follows global liquidity (money printing basically). Its actually got the strongest correlation of any asset. So what you are seeing is nothing but noise due to extremely short term trading that affects all assets.

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BoomTown's avatar
BoomTown 11 months ago
When is the next big print gonna be? I remember hearing Fred Thiel talk in November 2023 … he was asked about the upcoming halving and subsequent bull market and he said global liquidity was all that mattered. At the time, I thought it was a bearish (or at best conservative) comment but now - being 9 months post halving with only 40% appreciation above last cycle’s ATH - I’m wondering how accurate that assertion might have been.