Bitcoin Shows Strength Amidst Market Turmoil
There has been some reprieve for financial markets as the tech sectors have been spared the worst of tariffs. Bitcoin is insulated from the trade wars, but when investors take fright, everything feels the pain.
Bitcoin ByteTrend Score 2 of 5
In recent weeks, I have shown how Bitcoin resides relative to the technology sector. It is such an important chart because if Bitcoin can remain this strong, in relative terms, it’ll be a lasting winner. Disillusioned tech investors will buy Bitcoin, and the fact that it has been no worse than tech is remarkable. It used to be a 5x tracker; now it’s more like a 1x. This is another sign of Bitcoin’s increasing maturity.
Bitcoin and Nasdaq
But those investors aren’t coming over quite yet, as the market is still seeing outflows from the ETFs. When this flow improves, it will be supportive of price.
Bitcoin Held by ETFs
Outside Bitcoin, the crypto space remains weak. Our market breadth indicator, the ByteTree Crypto Average (BCA), is in a terrible state, on a ByteTrend Score of zero.
BCA
how do we get to buy BOLD in usa