Many changes have occurred in the market



The S&P 500 breaks new highs, a typical risk-on signal

Gold also breaks new highs, a standard risk-off signal

Risk assets are rising, safe-haven assets are also rising

So the question is, this year Bitcoin, which has been treated as a risk-on asset, has been stuck at 87,000 without moving

Theoretically, which side should it follow?

If BTC is digital gold, then it should follow gold

If it is a high Beta risk asset, then it should follow US stocks

But now, neither side is following

This is probably another example of how the market structure was completely distorted after the 10.11 event
BTC1,55%
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