Bitcoin Looking Bearish While Equities Are At All-Time Highs: What Gives?
Portfolio Pulse from Murtuza Merchant
The cryptocurrency market is showing bearish signs, with Bitcoin's funding rates dropping significantly, while U.S. equities are at all-time highs. This divergence is due to expectations of rate cuts and economic recovery in traditional markets, contrasting with stress in crypto markets.
August 19, 2024 | 4:13 pm
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Bitcoin's funding rates have plunged to -13%, indicating a bearish sentiment in the crypto market, contrasting with the optimism in equity markets.
The significant drop in Bitcoin's funding rates to -13% suggests a bearish outlook among investors. This is in stark contrast to the optimism in equity markets, which are at all-time highs due to expectations of rate cuts and economic recovery. The divergence highlights potential short-term downside risk for Bitcoin.
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