Bitcoin decouples from stocks, falls below $74K as markets hit record highs
By
@cointelegraph
3d ago· 3 min readenNews
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Summary
Bitcoin is struggling to hold the $75,000 level after being rejected at $78,000, marking a decoupling from traditional stock markets that are hitting new all-time highs. The tech-heavy Nasdaq 100 and the Russell 2000 Index both reached record highs while Bitcoin declined below $74,000. Factors behind Bitcoin's underperformance, including a hawkish Federal Reserve and growing investor interest in AI stocks, are unlikely to fade in the near term, reducing the odds of a bullish breakout above $82,000.
Key quotes
· 4 pulledBitcoin's (BTC) rejection at $78,000 on Thursday marked a decoupling from traditional markets after two months of strong correlation.
Wednesday's decline below $75,000 happened while the tech-heavy Nasdaq 100 Index jumped to an all-time high.
The factors behind Bitcoin's underperformance are unlikely to fade in the near term, reducing the odds of a bullish breakout above $82,000.
The US small-cap Russell 2000 Index reached a record high on Wednesday, signaling that traders are not particularly worried about the m
Bitcoin fell below $74,000 even as US stock markets rallied to new all-time highs. Will a hawkish Fed and investor interest in AI deepen the sell off?
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