Bitcoin is feeling the squeeze from all angles right now. We're seeing a perfect storm of selling pressure:
This triple whammy is hitting Bitcoin specifically, not the broader crypto market or traditional assets. As a result, we're starting to see something interesting: Bitcoin's usual dance with other markets is falling out of step. Correlations are beginning to break down. Let's dive into what this all means and why it might actually spell opportunity. The Ecoinometrics newsletter gives you insights from crypto and macro data to help you make better investment decisions. We spend hours every day gathering data, creating metrics and bringing them to life with data visualizations that allow you to quickly get to the heart of things. We then distill all that knowledge in each issue of the newsletter with less words and more charts so that you get insights, direct to the point, in five minutes or less. Join more than 22,000 investors here: Done? Thanks! That’s great! Now let’s dive in. Bitcoin is decoupling from macroThe takeawayOften, Bitcoin's price moves in tandem with other assets due to macro factors. Not this time. Bitcoin's current weakness is unique to it. Gold and stocks aren't facing the same pressures. This slump isn't due to a fundamental flaw in Bitcoin or a major economic shift. It's more about Bitcoin-specific events causing temporary turbulence. For long-term investors, this presents an opportunity. If you have capital available, now could be a strategic time to invest in Bitcoin. Remember, in crypto, periods of divergence from other markets often precede significant moves. Stay focused on the long-term potential. Bitcoin is undervalued...Unlock this post for free, courtesy of Ecoinometrics.A subscription gets you:
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Wednesday, June 26, 2024
Bitcoin is decoupling from macro
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