AI Summary
Show More
Quickly grasp the article's content and gauge market sentiment in just 30 seconds!
Time to Tango: BTC’s correlation with the stock markets has been strongly positive since October 2020. Although it has shown signs of declining as Bitcoin scaled new peaks, the correlation with the stock markets has recently gone up as both reacted to rising bond yield in a similar fashion. The stock markets’ turmoil on Thursday seems to have ended the argument that equity bulls remain slightly indifferent to rising Treasury yield, while Bitcoin’s massive tumble on Monday (just as the Treasury yield reached 1.36%) hints towards a similar narrative.