Bitcoin (CRYPTO: BTC) may remain in a bearish or transitional phase into Q2, according to Nic Puckrin, CEO of Coin Bureau, who argues that traditional macro models are becoming less effective in explaining crypto market behavior.
Bitcoin Becoming More “Idiosyncratic“
Puckrin notes that Bitcoin is increasingly decoupling from traditional assets.
Its correlations with gold, equities, the dollar, and interest rates have become inconsistent, and in some cases negative, challenging the long-standing “digital gold” narrative.
Instead, Bitcoin is now being driven more by internal factors such as stablecoin flows, derivatives activity, and overall market structure.
The report suggests Bitcoin’s current phase …