Bitcoin Tops $80,000: Equities Aren't Confirming the Move
Bitcoin traded above $80,000 for the first time since May this week, capping a seven-session run of roughly 22%, from about $64,506 on August 18 to $78,958 as of Wednesday, per Yahoo Finance data. The equity market has not confirmed the move. SPY sits at $765.91, up just 0.32%, and QQQ is at $710.72, up 0.62%, both within 2% of their 52-week highs. If this were a genuine risk-on regime shift, the broad index would be leading, not lagging by a factor of nearly seventy.
related Bitcoin coverage Key Takeaways Bitcoin has climbed roughly 22% in seven sessions, from $64,506 on August 18 to $78,958, while SPY (+0.32%) and QQQ (+0.62%) show only modest gains. Crypto-proxy equities are absorbing the…
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