D-Keine
What do Bitcoin, stocks, and gold not have in common? Only Bitcoin has surpassed its all-time highs again, and its realized cap exceeds $900B for the first time. Coinciding with a curious anniversary, the Pizza Day, this record becomes even
Bitcoin: The Fruit Of The Genius Act, Reflections On The Price Action (Rating Upgrade)
Summary
- Bitcoin surpassed its all-time highs, shortly before Pizza Day, driven by new inflows and expectations of favorable stablecoin regulation (the GENIUS Act).
- Institutional adoption seems to support Bitcoin, with major banking figures shifting their stance and supporting Bitcoin.
- Bitcoin maintains a solitary growth, while gold and the S&P 500 lag behind, even though I still expect an increasing correlation with the U.S. equity sector.
- I maintain my bullish targets for Bitcoin: The first is at $120–130K, as current demand exceeds halving-based models, fueled by regulatory optimism.
- I’m concerned that all this enthusiasm is coming right before a new wave of negativity for the S&P 500. Bitcoin and the S&P have strong correlations during periods of high negative volatility.
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