$BTC
Last night, US stocks surged again: QQQ +2.46%, SPY +1.60%. VIX was crushed, down -4.18%, and the DXY is still weakening. With this kind of “risk-on” sentiment, BTC should, in theory, blow up too.
But what happened? BTC is stuck at 64,522, up only +0.53% over the past 24 hours, and still -0.08% on the 1-hour chart. Major altcoins like ETH are barely holding up at +1.61%; meanwhile SOL, XRP, BNB, and ADA all flipped green and turned positive.
Old K believes this is a classic “US stocks partying, crypto taking a backseat” market. Institutions are looking for certainty in US equities, while capital in crypto is standing by. This divergence won’t last long—either BTC rallies to catch up and follow US stocks, or a peak in the stock market drags the crypto market down with it.
So the question is: do you bet on BTC making up the lag, or bet that the crypto market continues to act dead?
#Bitcoin #Binance Square
Last night, US stocks surged again: QQQ +2.46%, SPY +1.60%. VIX was crushed, down -4.18%, and the DXY is still weakening. With this kind of “risk-on” sentiment, BTC should, in theory, blow up too.
But what happened? BTC is stuck at 64,522, up only +0.53% over the past 24 hours, and still -0.08% on the 1-hour chart. Major altcoins like ETH are barely holding up at +1.61%; meanwhile SOL, XRP, BNB, and ADA all flipped green and turned positive.
Old K believes this is a classic “US stocks partying, crypto taking a backseat” market. Institutions are looking for certainty in US equities, while capital in crypto is standing by. This divergence won’t last long—either BTC rallies to catch up and follow US stocks, or a peak in the stock market drags the crypto market down with it.
So the question is: do you bet on BTC making up the lag, or bet that the crypto market continues to act dead?
#Bitcoin #Binance Square