Bitcoin (CRYPTO: BTC) remains stuck around $90,000 level, despite global equity markets and commodities continuing their multi-month rally.
Historical Correlation Broken
The crypto market is exhibiting an extreme divergence from broader equities, most notably in Ethereum‘s (CRYPTO: ETH) failure to track the Russell 2000 despite a long history of close correlation, prominent analyst Kevin noted.
Historically, the two have moved together roughly 90% of the time, particularly during risk-on environments.
A prolonged decoupling of this …