Viewpoint: The correlation between Bitcoin and US stocks may be a false impression created by market makers.

robot
Abstract generation in progress

BlockBeats news, on April 5th, Bloomberg analyst James Seyffart posted on social media that the resilience of Bitcoin is indeed astonishing. It is hard to believe that it can remain above 80,000 USD amidst a comprehensive sell-off of risk assets, while even gold is falling. In response, Blockstream co-founder and CEO Adam Back stated that the so-called correlation before was probably just an illusion, likely a false association created by market makers taking advantage of the liquidity shortage of fiat in the Bitcoin market, especially evident during the opening hours of the US market.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)