– with the price gain being attributed to investors seeking shelter in the top cryptocurrency amid bank failures.
The ratio rose by 5.65% in March, capping its best monthly performance since February 2009, as banking sector instability saw traders aggressively reinstate bets that the Fed would cut rates later this year. Nasdaq surged nearly 10%, outperforming the S&P 500's 3.5% gain by a big margin. "Much like crypto, growth-style companies which are expected to provide cash flows, or some form of fundamental value, further out into the future find their performance more heavily influenced by shifts in interest rates. The Nasdaq 100 index, for example, is comprised of mostly growth-style sectors, such as technology, which are more sensitive to rising or falling rate expectations," Gabriel Selby, Lead Research Analyst at CF Benchmarks, told CoinDesk in an email.
godbole17 A risk asset to global power and their sheep, not to those who understand it.
godbole17 bitcoin shitting its panties at $28k. Get those shorts set guys!
godbole17 Yes. Moves like a tech stock, as it is a payment system in essence at this time, but should decouple once it becomes a store of value, eventually.
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