The US stock market lost over $1 trillion of market value following weak performance across Magnificent 7. Bitcoin showed a positive correlation to the stock market, trading at a daily loss alongside several other cryptocurrencies. New stablecoin inflows have yet to be allocated, says CryptoQuantanalyst. Bitcoin plunged more than 2% on Tuesday after the US stock market posted significant losses. The decline saw the general crypto market recording a 3.
It is possible that institutional investors are buying digital assets via TWAP orders or with algorithms to reduce the impact on the short-term price, he added. Meanwhile, Bitcoin's recent weak price action has seen Meta stock and Gold rising to challenge its outperformance as the second-best asset on risk-adjusted returns. Bitcoin’s outperformance on risk adjusted returns is being challenged. Over the last twelve months Meta and even Gold are catching up to it.
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