Ambiguous relative weakness
Bitcoin slid back to the yearly open after tariff-driven turmoil and failed to rebound as stocks recovered. ETF outflows, weak derivatives activity, and gold’s rally highlight crypto’s persistent underperformance amid macro uncertainty.
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Bitcoin has retraced toward the yearly open after a sharp sell-off tied to Trump’s tariff threats over Greenland. Even after the tariffs were cancelled and equities rebounded above pre-announcement levels, BTC failed to recover. Gold and silver continued to rally to new all-time highs, underscoring crypto’s relative weakness.In a fragile macro environment, cryptocurrencies have struggled to attract sustained buying interest. While correlations between BTC and equities are modestly rising, weekly returns continue to highlight crypto’s underperformance. E
