Crypto Sell-Off Puzzles Wall Street Veteran as Stocks, Gold, AI Surge
Bitcoin’s drop below $84K puzzled analysts as stocks, gold, and AI sectors hit record highs, creating one of crypto’s strangest divergences.
The cryptocurrency market opened December with another big drop, with CoinGecko data showing Bitcoin (BTC) falling below $84,000 on the first day, and dragging the total market value below $3 trillion.
For some industry watchers, the dip feels off, given it is coming at a time when there are record-setting performances in traditional equities, gold, and other risk assets.
A Baffling Divergence from Macro Tailwinds
Jeff Dorman, Chief Investment Officer at Arca, called the current trend “one of the strangest crypto sell-offs…
