Bitcoin Appears to Decouple from Stocks

Dow Jones
昨天

0923 ET - Bitcoin rises as it appears to be decoupling from lower U.S. equity futures and a drop in Asian chip stocks, Block Scholes analyst Thahbib Rahman says in a note. Bitcoin is also supported by Strategy's $22 million purchase of the cryptocurrency on Monday, he says. Moreover, options markets indicate investor sentiment towards crypto is improving. Demand for short-dated bitcoin put options, which offer protection against future potential falls, has eased. However, the skew in options still favors puts over call options which bet on gains, he says. Bitcoin rises 0.2% to $83,202, LSEG data show.

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