Bitcoin showed flexibility compared to the wider financial market amid total economic uncertainty, but analysts warn that it is still too early to know if the trend will continue.
“We are not there until now, but if Bitcoin has strength through the upcoming consumer price index, as well as the stock oscillation of Powell, it can be affected by a disassembled narration from” temporary difference “to” system change “.
Bitcoin’s relative power that has not been proven to be a structural
Analysts said that during bitcoin (BTCThe relative force against American stocks “looks real”, has not yet been confirmed as a structural. Analysts have warned that Bitcoin had previously witnessed short periods of superior performance, only to eventually decline with the broader market.
Cointelegraph mentioned that recently Bitcoin gives up increasingly Its shares are linked to the oud gold copy. At the time of publication, the Bitcoin price recorded 7.68 % over the past thirty days. Meanwhile, S&P 500 and NASDAQ decreased by 6.79 % and 8.14 %, respectively, respectively per Google Financing Data.
During the same period, NVIDIA (NVDA), which has Bitcoin surpassed the past Hold, decreased 15.4 %. Analysts attributed the decrease to “the effective ban on advanced chips exports to China and the volatile tariffs.” In May 2024, CEO of Swan Bitcoin Cory Klippsten said there is “a chance close to NVIDIA that excels Bitcoin over the next ten years.”
The current BitFinex described the current encryption market as a “hybrid case”, with the risk of macroeconomic economy high on one side and the rise in instant Bitcoin ETF flows on the other side.
April 22 alone witnessed 913 million dollars In Spot Bitcoin Etf FlowsThe largest since late January.
“This background prefers Bitcoin as” the cleanest shirt in dirty laundry. “
They added that this strengthens Bitcoin’s position as a strong store of value, as Bitcoin dominates levels that have not been seen since late 2021.
At the time of publication, Bitcoin 64.39 % was dominated, According to To TradingView Data.
Related to: Bitcoin holders in the profit where the new capital enters the market – is the price of the next $ 100,000?
Participants in the Crypto Market will see a close consumer price index in April (CPI), which was published on May 13, after March data showed a cooling trend that some see it a Bitcoin short -term signal.
The consumer price index came in March by 2.4 % on an annual basis, a decrease from 2.8 % in February, the lowest level since February 2023, according to the American Statistical Office.
Meanwhile, some encryption analysts warn that other indicators indicate that the Bitcoin gathering may not last.
10x search “Research Chief Marcus Thynin“Given that our Stablecoin Mining Index is not yet to higher activity levels, we are still cautious about the sustainability of the current Bitcoin gathering.”
magazine: Previous Lof Island Star on how to go virus in encryption: Van00sa, X Hall of Flame
This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.
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