Bitcoin-Stocks Correlation Now Most Negative Since Covid’s Onset
- Largest token tumbled even as cooler US CPI led to stock rally
- Question is whether ETF hype can stir more gains for Bitcoin
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The buy-everything wave that just swept across global markets has bypassed Bitcoin, which is down since a soft US inflation print rolled across trading screens and stirred a bout of wider risk taking.
The drop since the US data were published on Tuesday morning compares with a 2% jump in an index of global shares on bets that the Federal Reserve is done with interest-rate hikes and will pivot to cuts next year.