Bitcoin, Strategy, Coinbase Feel The Heat From Stock Market Drawdown: ‘Upside Is Likely Limited,’ Analyst Says

Macro analyst Capital Flows has identified Bitcoin‘s (CRYPTO: BTC) increasing correlation with traditional risk assets, particularly low-quality banks in the Russell index, as key to understanding its price trajectory in the current market environment.
What Happened: “Bitcoin is having a greater convergence with traditional risk asset flows but remains at the far end of the risk curve,” Capital Flows stated in a thread on X on Friday, noting that capital must move outward from less risky assets to reach Bitcoin.
This positioning explains why Bitcoin has been “moving lockstep with all of the lowest quality banks in the Russell” – both are highly sensitive to changes …Full story available on Benzinga.com

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