Between cryptocurrency and US stocks today there is a clear rotation of liquidity.
The S&P 500 index rose by 0.26%, adding about $240 billion to the market capitalization of the US stock market.
At the same time, Bitcoin fell by roughly 3% from its intraday high, losing about $48 billion in market capitalization.
Interestingly, the decline in Bitcoin began almost at the same time when futures on US indices reached a local trough and turned upward.
It seems that some of the liquidity is flowing from cryptocurrency back into US stocks.
The S&P 500 index rose by 0.26%, adding about $240 billion to the market capitalization of the US stock market.
At the same time, Bitcoin fell by roughly 3% from its intraday high, losing about $48 billion in market capitalization.
Interestingly, the decline in Bitcoin began almost at the same time when futures on US indices reached a local trough and turned upward.
It seems that some of the liquidity is flowing from cryptocurrency back into US stocks.