Traders watch bitcoin for clues about high-flying stock market

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New for subscribers: Traders watch bitcoin for clues about high-flying stock market. Check out CNBCPro today.

The cryptocurrency, which briefly topped $40,000 apiece last week, has become a poster child for the level of animal spirits in the financial markets.

The same goes for Tesla, which just came off its record 11-day winning streak after a sevenfold rally in 2020. A number of investors and traders flagged that the broader stock market started to move in tandem with these two feverish assets in the past few days.

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