The correlation between bitcoin and equities will continue to diverge over the coming months due to the Fed's continued monetary tightening.
Bitcoin’s correlation with equities is diverging as the Fed’s ‘higher rates for longer’ narrative sinks in, an analyst said.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.The correlation between bitcoin's price and equities will continue to diverge over the coming months as the Federal Reserve's"higher rates for longer" narrative sinks in, an analyst said.
"Higher rates for longer are likely to be good for bitcoin, but not so great for equities, causing a continued squeeze on corporate margins," CoinShares Head of Research James Butterfill told The Block. Butterfill said that recession signals, such as credit delinquencies and weak PMI readings, could force an eventual rate cut. However, he sees even this scenario as a negative for equities.
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