Bitcoin is up 7.68% over the past 30 days, while the S&P 500 and the Nasdaq are down 6.79% and 8.14% respectively.
Bitcoin has shown resilience compared to the broader financial market amid macroeconomic uncertainty, but analysts caution it’s still too early to know whether the trend will last.
“We’re not quite there yet, but if Bitcoin holds strength through the upcoming CPI, as well as ongoing Powell-related and equity earnings volatility, the decoupling narrative could evolve from “temporary divergence” to “regime change,” Bitfinex analysts said in an April 23 markets note viewed by Cointelegraph.
The analysts said that while Bitcoin’s (BTC) relative strength against US equities “appears real,” it is yet to be confirmed as structural. The analysts warned that Bitcoin has previously seen short periods of outperformance, only to eventually fall back in line with the broader market.
