Bitcoin

<p>Bitcoin prices hit another 17-month high on Thursday even as equities markets declined, signaling a decoupling between cryptocurrencies and traditional finance.</p>
<p>According to market intelligence firm <a href="https://twitter.com/santimentfeed/status/1717294811915686244" target="_blank" rel="noopener noreferrer nofollow">Santiment</a>, Bitcoin scratched its way to a fresh peak while overall crypto market capitalization grew. This divergence comes as the S&amp;P 500 dropped on the same day.</p>
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<p><em>Source: <strong><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Santiment" href="https://captainaltcoin.com/go/santiment/" data-shortcode="true">Santiment – Start using it today</a></strong></em></p>
<p>“This suggests that Bitcoin’s &amp; altcoins’ 2-year reliance on equities is gone, a typical recipe for bull market conditions,” Santiment stated on Twitter.</p>
<p>The firm tracks investor behavior across crypto markets. Its analysts believe crypto’s newfound independence from stocks represents a meaningful shift.</p>
<p>Previously, Bitcoin and other digital assets tended to trade in the same direction as equities markets. But recent movements depict cryptocurrencies charting their own course, even during periods of stock market volatility.</p>
<p>With the crypto bull run showing resilience amid a deteriorating macroeconomic climate, analysts say it’s a sign of growing maturity for the asset class.</p>
<p>As cryptocurrencies become more entrenched in mainstream finance, the thinking goes, external factors like monetary policy and corporate earnings may have less influence over crypto’s own market cycles.</p>
<p>Many investors appear to be betting on exactly that scenario playing out. Crypto funds have seen large inflows in recent months, while stocks languish in bear market territory. Whether the bullish sentiment will last remains to be seen.</p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/bitcoin-hits-17-month-high-as-analyst-declares-btcs-independence-from-equities/">Bitcoin Hits 17-Month High as Analyst Declares BTC’s Independence from Equities</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Bitcoin Hits 17-Month High as Analyst Declares BTC’s Independence from Equities

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