This is how Bitcoin benefits in this crypto bear market

Bitcoin might come out of this crypto winter with a bigger market share as investors rotate back into the world's largest cryptocurrency from other altcoins, according to OSL's managing director and head of Americas Fernando Martinez.

June was a terrible month for Bitcoin, which plunged 40% and ended the month below the $20,000 level. Since then, Bitcoin has steadied and risen above $23,000. However, the bear market is still in place as investors shift their focus from inflation to recession fears and more contagion risks in the crypto space.

That correlation is already on its way down, Martinez pointed out."If you take a look at the correlation between Bitcoin and the NASDAQ 100, it was at all-time highs in February. Right now, it's not that predictable anymore, and it will continue to decouple. But for the protocols, which are the higher beta type of assets, it is going to be risk-on/risk-off," he said.

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