The curious case of a massive Bull Rally in all markets
This is not a crypto analysis, I have more holdings in stock market than in crypto so that's what I care about.
But the curious case here is the situation in BTC long contracts.
It's at a historical high, so high that the indicators at the bottom have no place to go anymore and they are all signaling a downturn in these long contracts.
SO why does this matter?
Because since July 2021 the BTC market is almost 1:1 correlated with stock market.
That is because with mining power leaving China the crypto domination now are in the hands of the USA or Wall Street to a certain degree. The biggest investors of crypto are big funds and VCs in the US and they are dictating the price.
And since then, this particular BTC Long contract chart is in a negative correlation with the stock market.
As we have come to an end in this massive rise in long contracts what will happen next is a big upwards move in BTC, SPX and NDX.
At this point no rhetoric about recession, interest rates, war, uncertainty etc. won't matter.
This is like seasons, spring will come no matter what.
And here it is!
But the curious case here is the situation in BTC long contracts.
It's at a historical high, so high that the indicators at the bottom have no place to go anymore and they are all signaling a downturn in these long contracts.
SO why does this matter?
Because since July 2021 the BTC market is almost 1:1 correlated with stock market.
That is because with mining power leaving China the crypto domination now are in the hands of the USA or Wall Street to a certain degree. The biggest investors of crypto are big funds and VCs in the US and they are dictating the price.
And since then, this particular BTC Long contract chart is in a negative correlation with the stock market.
As we have come to an end in this massive rise in long contracts what will happen next is a big upwards move in BTC, SPX and NDX.
At this point no rhetoric about recession, interest rates, war, uncertainty etc. won't matter.
This is like seasons, spring will come no matter what.
And here it is!