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Bitcoin’s Link With Stocks Weakens as ‘Stronger Hands’ Left Clinging On

  • More investors in crypto now are longer-term holders: Tu
  • Number of ‘hodlers’ with up to 0.1 Bitcoin has grown recently
Bitcoin logo on the window of a cryptocurrency ATM.
Bitcoin logo on the window of a cryptocurrency ATM.Photographer: Piotr Malecki/Bloomberg
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For much of the year, Bitcoin has traded in the same way as US stocks, falling when they fall and rising when they have a good day. Not on Monday.

The largest digital coin by market value rose more than 2% at one point at the start of the week to trade around $19,300. The S&P 500, on the other hand, lost as much as 1.3% and was on pace to notch its fifth straight losing session. Ether, Binance Coin, Solana and other cryptocurrencies also advanced.