Bitcoin Up 20% in July. Stonks Not So Much.

Bitcoin’s price pushed as high as $11,460 on increased buying volume Friday, continuing its bullish run to cap a week of economic uncertainty.

“The US Q2 GDP results were rough and traditional markets are seeing a bit of risk off - a sharp move lower in yields and weakness in stocks,” Dan Koehler, liquidity manager for cryptocurrency exchange OKCoin, told CoinDesk. “It’s a crucial time for bitcoin in my view.”

Indeed, stocks are taking a beating Friday, with major global indexes down or flat.