Crypto ‘decoupling’ story ends as stocks follow Bitcoin’s rally
Key takeaways:
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Despite weak US manufacturing data, Federal Reserve liquidity plans and strong corporate earnings keep equities and crypto afloat.
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The total crypto market capitalization rose 8.5% since March.
Cryptocurrency traders have frequently zoomed in on the need for crypto to show a clear “decoupling” from the stock market, and over the past 10 days, the intraday movements of Bitcoin (BTC) and major altcoins have closely tracked those of the S&P 500, even as trade war developments have dominated market sentiment.
A decoupling would validate digital assets as an independent class and address growing concerns about a potential global economic…
