$BTC US stocks soared, but Bitcoin fell? Don't worry, the truth is here! 》 Recently, a strange phenomenon has appeared in the market: US stocks have soared, but Bitcoin has fallen? Don't worry, let me analyze it for you.
1. Short-term adjustment of Bitcoin
Bitcoin price showed a bearish RSI divergence signal on the 4-hour chart, which means that it may need to make a short-term adjustment. Bitcoin has risen by 10% last week. This correction after a rapid rise is a normal market behavior, and investors do not need to panic too much.
2. Bitcoin's safe-haven properties
In the past month, when trade tensions intensified, Bitcoin performed very well, its correlation with the stock market weakened, and even outperformed the stock market. Like gold, Bitcoin has become a safe-haven choice for investors in times of uncertainty. When market concerns are strong, Bitcoin's value is highlighted.
3. Market reaction to the trade agreement
Today, after the announcement of the China-US trade agreement, US stocks rose sharply by 4%, while Bitcoin fell. This is actually because Bitcoin has already "preempted" the benefits brought by the trade agreement. After the news really landed, there was a short-term profit-taking in the market, which led to a drop in the price of Bitcoin.
This short-term intraday fluctuation is actually normal, and the market is re-adjusting various factors. In the long run, the rise of US stocks is beneficial to the recovery of global economic confidence, which is also good for Bitcoin. From a technical analysis point of view, Bitcoin has strong support near $93,000 and $100,000, and is expected to rebound soon.
So, don't panic because of short-term fluctuations, the long-term trend of Bitcoin is still positive!
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