Are Stocks Weighing on Crypto—Or the Other Way Around? Here’s What Experts Think
Key Takeaways
- Fundstrat’s head of digital asset strategy said the weakness in crypto was macro, with crypto traders “front-running” a selloff in stocks.
- But there’s a counter view: Interactive Brokers’ chief strategist said bitcoin’s tumble was the “proximate trigger” for Thursday’s intraday reversal in the stock market.
Have you seen the Spider-Man meme? You know—the one where two cartoon Spider-Men point at each other?
That might be a metaphor for the mood in risk assets these days, with some experts suggesting that stocks are to blame for the weakness in crypto markets, and others arguing that crypto is weighing on stocks. Whoever might be right, that investors seem to be reacting to excesses in both may not bode well for…
