Has Bitcoin Decoupled From The S&P 500?

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In Brief
  • Since the beginning of the week, Bitcoin has gradually increased while the S&P 500 has tanked.

  • SPX was rejected by its 200-hour MA while BTC is trading above its 200-hour MA

  • This pattern is expected to continue, at least in the short-term.

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Since Monday, the Bitcoin (BTC) price has increased considerably, while the S&P 500 (SPX) has been recording losses. This discrepancy was noted by Bitcoin trader @ZackVoell, who tweeted an image that shows a side-by-side comparison of the Bitcoin price (left) and the SPX (right). In the image, it is clearly visible that BTC has gradually moved upwards, while SPX has decreased
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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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