Absorbing the move
Market signals remain healthy overall, with soft derivatives activity, encouraging ETF flows and spot volumes cooling from last week’s extreme levels, as BTC spends the past week in tight consolidation.
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Bitcoin has consolidated after last week’s 23% rally, falling 1% over the week while trading between $76,800 and $81,600. Market signals remain healthy overall, with soft derivatives activity, encouraging ETF flows and spot volumes cooling from last week’s extreme levelsBTC is also behaving more like gold than U.S. equities, with its 90-day gold correlation at an all-time high and its Nasdaq correlation near yearly lows. Meanwhile, Fed Chair Warsh’s hawkish Jackson Hole comments pushed the market-implied probability of a
