😱Bitcoin to the Moon? Or Just Another Bubble?

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One shudders to think what the modern world is coming to. Bitcoin, that digital bauble for the nouveau riche, has apparently decided to detach itself from the dreary reality of U.S. stocks. Instead, it seems to be clinging to gold like a desperate social climber at a Henley Regatta. 🙄

  • Bitcoin, in a fit of pique, has abandoned U.S. stocks, choosing instead to emulate gold’s rather vulgar “safe haven” rally.
  • The unseemly squabble between the Trump figure and the Fed, a spectacle worthy of a reality television show, may be driving investors to flee the U.S. dollar like rats from a sinking ship. 🚢

Bitcoin [BTC], that digital whatnot, has, against all good taste, decoupled from U.S. stocks last week and continued this charade earlier this week. Indeed, this… cryptocurrency… has brazenly rallied by 5% over the last five trading days. It even dared to flirt with $90k during Tuesday’s early morning hours. One can only imagine the champagne socialists celebrating. 🥂

Meanwhile, the S&P 500 Index (SPY) has, quite sensibly, fallen by 5%, and the tech-heavy Nasdaq has embarrassingly slipped by 6%. One can only hope this crypto nonsense is a flash in the pan. 🔥

A Major Decoupling? Or Just a Temporary Embarrassment?

Alas, this decoupling is not the natural order of things. BTC has, until recently, been dragging itself along with U.S. equities, like a poorly dressed guest at a Buckingham Palace garden party, since February. 😒

According to the BTC Pearson Correlation (30-day) indicator, a device as incomprehensible as modern art, the crypto’s positive correlation to U.S. stocks strengthened from late February. One shudders to think of the implications. 😨

However, from the ides of April (15th), BTC decided to abandon the S&P 500 and the Nasdaq Composite. It has since been seen cozying up to gold, suggesting it has begun behaving as a “risk-off asset” or “safe haven” from mid-April. A most unseemly display. 🙄

In a recent CNBC interview, a spectacle of modern media, market analyst and FundStrat CIO Tom Lee declared, with the sort of confidence only the misinformed possess:

“BTC is going to catch up to gold. Its ATH was over $100K. There’s room to catch up as a non-dollar asset.”

He also noted that the recent de-leveraging of U.S. dollar-based assets (a sell-off, for the uninitiated) was over and could boost BTC going forward. One can only hope he is wrong. 🙏

Galaxy Digital’s Head of Research Alex Thorn, a man with a job title that sounds like a character from a science fiction novel, finds Bitcoin’s decoupling trend from U.S. stocks “remarkable.” However, he warns, with a hint of sanity, that it wouldn’t last. 😥

The sustained sell-off in the U.S. dollar and U.S. stocks has been driven by the ongoing, and frankly tedious, threats by President Donald Trump figure to fire Fed chair Jerome Powell for being “too late” to cut interest rates. A most uncivilized display. 😠

Most analysts view Trump’s move as a breach of Fed independence, a concept as elusive as common sense in modern politics. This has dented confidence and sparked a mass investor exodus from U.S. markets to gold, BTC, and other markets. One can only imagine the chaos. 😩

For its part, Gold knocked a new all-time high of $3.5k per ounce and BTC pumped harder. In 2025 so far, Bitcoin has lagged behind gold and shed over 35% of its value. Whether the renewed “safe haven” trade will tip it to regain lost ground against gold remains to be seen. One can only hope it crashes and burns. 😈

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2025-04-23 09:14