Tracking the correlation/decoupling of BTC & tech stocks🚨🌊🔜👀
This idea seems to be continuing on pretty well, showing the "slow" decoupling of BTC and the stock market. Currently the trend has been broken and there seems to be a confirmed retest of the upper trend. A good bounce off this should see the ratio move towards the 0.29 level and a break of that resistance level would signal a strong continuation. This (to me) would be the final signal that BTC has begun (perhaps in a big way) to decouple from the growth/fall rate of the stock market. This may be sparked by retail returning to the market, institutional investors taking a more BTC targeted strategy, or a combination of the two. If this is mostly caused by institutions then I would also be looking to see the "hype news" starting to come out, with headlines such as "Bitcoin will hit 100k" and things like that. As the US market goes into recession, big investors may just look to BTC and other cryptos to meet there profit-making needs. IMO this is how the next "short-term" bull-run may begin.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.