Decoupling today
Guys we are seeing something extraordinary today: While Wall Street is down, Bitcoin is up! S&P index looses -2%, Nasdaq 100 even -3% while Bitcoin gains +4%. At least today the correlation of BTC with tech stocks has faded.
Background of todays decoupling is Trump again raising pressure on the Fed to lower interest rates. He called Fed Chair Powell a loser and is searching for a way to fire him. This is FUD for investors. Additional to BTC also Gold is up, trading at more than $3400 meanwhile.
We will see in the coming days whether this trend is continuing. For Bitcoin it is crucial that we cross the 90k sustainably to be straight in line for another ATH rallye.
What is your market expectation for this week?
