BTC finally no longer correlates with US stocks



- US Stocks: Entering a carnival mode, S&P up 0.64%, NASDAQ up nearly 1% (Strangely, AI is falling while traditional sectors are rising)

- Gold: Nearly 3% increase in a single day; logically, geopolitical easing should have caused a decline

- US Bonds: 10-year yield drops back to 4.16%, 2-year yield is also falling, but the decline is minimal, indicating that everyone is still observing the risks

Focus on BTC

- Subtle changes in correlation: Over the past month, the correlation between BTC and NASDAQ has actually been decreasing

- BTC is shifting from a “risk asset” to a “liquidity hedge asset”

- On-chain data shows that the selling pressure of long-term holders (LTH) has significantly weakened around $92k

An counterintuitive point: 90,000 BTC is more cost-effective than 85,000 BTC

Everyone is now front-running the non-farm payroll data on Friday; it seems everyone is trying to get ahead, and we will wait and see
BTC-0,01%
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