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Bitcoin Fails to Catch Up on Rally in US Equities Despite Cooling Inflation

Despite the recent decrease in US inflation, Bitcoin has not experienced a rally like US equities and the global market. While major US indices reached 15-month highs, Bitcoin has fallen 1.28% in the last 24 hours and is currently trading at $30,358. Market analyst Tony Sycamore warns investors to be cautious, stating that Bitcoin's recent surge has stalled and could possibly fall to $25,000-$26,000.

The negative correlation between Bitcoin and Nasdaq has reached its highest point since 2020, possibly due to the US Department of Justice selling some of the Bitcoins seized from Silk Road. However, some analysts, such as John Toro, head of trading at digital-asset exchange Independent Reserve, still have optimism for BTC in the disinflationary environment.

Bitcoin Bitcoin $92,593.07
-3.15%
Bitcoin Nasdaq
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