2023-10-26 07:19 |
Google’s parent company, Alphabet, was the worst performer on the day, falling 9.5% in a massive $180-billion wipeout.
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The Bitcoin and the S&P 500 Index have historically shown a near-perfect correlation with net liquidity, a key market metric often overlooked in market analysis. However, as of June 2023, this correlation appears to be waning, potentially signaling a significant shift in market dynamics.
The first of two key events in a historic week for Bitcoin and financial markets worldwide is in the books. While the CPI release was today at 8:30 ET, the last FOMC meeting of the year is scheduled to take place tomorrow featuring a new dot plot.
BTC futures and stablecoin margin data shows a lack of appetite from buyers even as Bitcoin gained 7.5% in a week.
Declining interest in margin shorts and a balanced risk perception in options markets highlight a possible path to $21,500 for BTC price.
If historical data is anything to go, Bitcoin’s (BTC) price might dip further this September, which has been the worst-performing month on record for the crypto asset since 2013. The post Research: September is historically the worst month for BTC since 2013 appeared first on CryptoSlate.
High correlation to stock markets and recession risks limit optimism on the part of BTC investors.