- Bitcoin breaks correlation to stocks
- Gold is overbought, stocks are oversold, but Peter Brandt has doubts
Bloomberg’s senior ETF analyst Eric Balchunas has drawn the community’s attention to the fact that recently the stock market has been plummeting, while the world’s pioneer cryptocurrency, Bitcoin, has been on a rise, heading to test the $90,000 price level.
Related
Tue, 04/22/2025 - 13:13 Strategy's Saylor Reacts to Bitcoin Price Pump With Just 3 Words
Gamza Khanzadaev
Bitcoin breaks correlation to stocks
He pointed out that Bitcoin has broken its historical correlation to the stock market recently and has thus far been moving in quite the opposite direction from it. The screenshot he shared shows that the S&P 500 (SPY) was down 1,000 points this Monday, while on that day BTC jumped by 3.57% and hit $88,250.
HOT Stories Bitcoin Breaks Above $90K as 'Decoupling' Narrative Gains Steam Strategy's Saylor Reacts to Bitcoin Price Pump With Just 3 Words Dogecoin (DOGE) Faces Do-or-Die Moment: Potential Scenarios Elon Musk Stuns Community With Big Crypto Scam Warning: ‘Block Him’
Balchunas also mentioned gold, which is “in the leage of own.” On Monday, it showed a small decline of 0.983, displaying a strong negative correlation to the stock market.
Bitcoin up big yest when stocks down, showing negative correlation to stocks past week or so, better than treasuries (which are unreliable once again), altho gold is in league of own (-98). Obv a ridic small time frame but gotta get get these small wins if it ever wants to be… pic.twitter.com/JydPKuDRNA
— Eric Balchunas (@EricBalchunas) April 22, 2025However, today, this precious metal soared to a new all-time high at $3,500 per troy ounce after U.S. President Donald Trump has confirmed his intention to fire the chairman of the Federal Reserve Jerome Powell.
Related
Tue, 04/22/2025 - 09:29 Elon Musk Stuns Community With Big Crypto Scam Warning: ‘Block Him’
Yuri Molchan
Gold is overbought, stocks are oversold, but Peter Brandt has doubts
Legendary commodity trader Peter Brandt, with roughly 60 years of trading experience, has shared his take on the narrative beginning to circulate on the market about gold being overbought and stocks being oversold. This implies that soon the situation is likely to change.
Brandt shared a chart, showing that gold has been heavily declining against the S&P 500 since its previous all-time high in 2012. This year, the gold price has been rising steeply with XAU, reaching 23% YTD growth by now.
Gold is overbought
U.S. stocks are oversold
In the near term, maybe
In the longer term -- we've only just begun the flippening. pic.twitter.com/tPRsEodPJ3
Peter Brandt stated that gold might be oversold versus stocks in the near term, but as for the long-term prospects, “We've only just begun the flippening.”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
