TechFlow news, August 9 — According to BlockWorks, Bitcoin remains highly correlated with the stock market, which is gradually recovering from last weekend's sell-off pressure. Rich Rosenblum, CEO of GSR, said in an interview that this correlation is nothing new and expects it to persist ahead of the upcoming election.
John Glover of Ledn further explained that when markets experience extreme conditions, correlations among various assets tend to converge, indicating Bitcoin is behaving more like a risk asset rather than fulfilling its traditional role as "digital gold." Given the market performance over the past year, this trend may continue for some time, prompting us to reconsider Bitcoin's status as "digital gold."
Add to Favorites
Share to Social Media
