The Bitcoin Layer Bitcoin Update: ETF-Buyers, BTC Dominance, Stocks Correlation
In this episode, Joe walks through four important bitcoin charts before the long 4th of July weekend gets underway. He looks at ETF buyers re-entering the market after a 3-week slump, forecasting that bitcoin may be slated to break its consolidation. He suggests that BTC will likely resume its bull run due to the S&P 500 correlation with BTC dropping rapidly. He takes a look at BTC dominance relative to crypto to make the assertion that, judging by past cycles, the bulk of bitcoin's bull run is still on its way. Finally, he concludes with a look at performance of the S&P 500 in the second half of the year to determine how bitcoin will do.
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The Bitcoin Layer is a bitcoin and global macroeconomic research firm.
The Bitcoin Layer and its guests do not provide investment advice.
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Nik Bhatia's Twitter: https://twitter.com/timevalueofbtc
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The Bitcoin Layer and its guests do not provide investment advice.