Data Says Bitcoin Holds Up To Macro Turmoil Better Than Altcoins
Bitcoin has not had the best couple of things and altcoins have been subjected to the same fate too. The market has continued to succumb to pressure being mounted by various social issues, from the Canada protests to the brewing conflict between Ukraine and Russia. In all of this, however, bitcoin has mounted better resistance and this is apparent in the data. Bitcoin Holds Ahead Of Indexes Bitcoin has once again proven to be the best bet when the market is in turmoil. With the recent downtrend, all of the indexes have suffered, just like bitcoin, but the latter has held up better in the....
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A week unlike any other in Bitcoin's history is suddenly here as hodlers brace for guaranteed turmoil. Bitcoin (BTC) starts a new week in the shadow of a new geopolitical conflict — what are the main hurdles that investors face?In what has become an unrecognizable macro-environment compared to even days ago, Bitcoin, like many other assets, is feeling the pressure.Russia’s invasion of and subsequent war against Ukraine is wreaking havoc on global markets, and developments can upend sentiment within hours or just minutes.The timing has hit Bitcoin, too — its “safe haven” quality is seeing a....
The Bitcoin correlation with the macro markets reached new highs in 2022. This saw the price of the digital asset, and the entire crypto market by extension, follow the movement of the stock and equities market very closely. There were forecasts that the cryptocurrency would begin to decouple from the macro market as time went on but data shows that the correlation still remains very high even now. Following The Macro Market One of the most prominent ways that the macro market and the bitcoin correlation have shone through has been during important events like the CPI data releases. The....
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Bitcoin has undergone a strong rejection over recent weeks. The coin, after peaking at $12,500 in August, dropped as low as $9,800 earlier this month. The coin now trades at $10,400 — still over $2,000 below the year-to-date highs. While this was a steep drop, not everyone thinks that this is it for Bitcoin’s bull trend. Bitcoin Holds Crucial Macro Level One crypto trader recently shared the chart below on September 22nd, noting that Bitcoin […]