Over the last week, Bitcoin has shown clear decoupling from stocks by moving opposite to the U.S. equity indices.
So far in 2022, Bitcoin and crypto have entered a steeper correction over equities explaining why JPMorgan finds BTC and crypto attractive at this stage.
The world’s largest cryptocurrency Bitcoin (BTC) has been under constant selling pressure and failing to hold around the $30,000 resistance. Earlier today, the Bitcoin price crashed under $29,000 dropping another 2.5 percent.
With this fall, Bitcoin is showing a clear divergence and decoupling from stock. On Thursday, the U.S. equity indices were all trading in green with subdued volatility. Bitcoin, which has been closely following the performance of the S&P 500, did the opposite. While Bitcoin is trading in the negative territory on the weekly chart, the S&P 500 is up 5 percent this week.
Also, Bitcoin draws its comparison closely to the Nasdaq 100 index having significant growth stock. Over the last week, B
