Bitcoin a Crypto Rock Solid Trotz Iwwer 2% Réckgang am S&P 500, wäert et behalen?

Despite a sharp correction in the U.S. equity markets on Thursday, September 29, Bitcoin (BTC) and the broader crypto market have remained rock solid with little volatility. As of press time, BTC is trading 0.42% down at a price of $19,357 with a market cap of $371 billion.

On the weekly chart also, the BTC has shown less than 1% movement and has been holding up pretty well. At the same time, the S&P 500 underwent a very strong on Thursday, tanking more than 2%. So what we are seeing now could be the initial signs of Bitcoin’s long-term decoupling from the U.S. equity market. As on-chain data provider Santiment Rapporten:

#Bitcoin huet ronderëm $ 19.4k an # Ethereum ass haut um 1,340 XNUMX $. Mä d'Geschicht ass d'Tatsaach, datt si ouni Ënnerstëtzung vun der # SP500, wat -2.4% erof geet. Wann d'Korrelatioun tëscht #krypt & # Equities, Dëst ass ganz encouragéiert.

Bitcoin vs Banks

As we know, central banks across the globe have been struggling to deal with current macro conditions. Amid its quantitative tightening measures, the British central bank has pivoted to Suen Dréckerei measures to protect its bond market.

Schwätzen am CNBCd'Liwwerung Alpha Konferenz on Wednesday, legendary investor Stanley Druckenmiller believes that crypto could see a revival as the trust in the central bank fades away. The investor believes that the U.S. economy is already in deep trouble and that recession is very likely by 2023. He added:

Ech konnt gesinn datt d'Krypto Währung eng grouss Roll an enger Renaissance huet, well d'Leit einfach net d'Zentralbanken vertrauen.

The investor said that he doesn’t own any crypto as of now but added “it’s tough for me to own anything like that with central banks tightening”. Sven Henrich, the founder of NorthmanTrader, a markets research firm gesot: “You know we’ve reached a unique time in history when #Bitcoin suddenly is less volatile than fiat currencies”.

De Bhushan ass e FinTech Enthusiast an hält e gudde Flair am Sënn vun de Finanzmäert ze verstoen. Säin Interessi fir Wirtschaft a Finanzen zéien seng Opmierksamkeet op déi nei entstanen Blockchain Technologie an Cryptocurrency Mäert. Hien ass kontinuéierlech an engem Léierprozess an hält sech motivéiert andeems hien säi gewinnt Wëssen deelt. A senger Fräizäit liest hien Thriller Fiction Romaner an entdeckt heiansdo seng kulinaresch Fäegkeeten.

Dee presentéierten Inhalt kann d'perséinlech Meenung vum Autor enthalen an ass ënner Zoustand vum Maart. Maacht Är Maartfuerschung ier Dir a Kryptowärungen investéiert. Den Autor oder d'Publikatioun huet keng Verantwortung fir Äre perséinleche finanzielle Verloscht.