Summary
- Bitcoin (BTC) has underperformed the U.S. stock market over the past six months, but an analysis said this could be a signal of a rebound.
- Mark Connors said Bitcoin’s relative weakness is historically a pre-rebound pattern and could turn into fresh demand inflows.
- However, it said the timing of any rebound is expected to be driven by geopolitical factors such as the Iran conflict, rather than market structure.
Forecast Trend Report by Period
Bitcoin (BTC) has underperformed the U.S. stock market over the past six months, but an analysis suggests this could be a signal of a rebound.
According to cryptocurrency-focused media outlet CoinDesk on the 31st (local time), Mark Connors, founder of Risk Dimensions, said, "Bitcoin’s relative weakness is historically a pattern that appears ahead of a rebound."
He explained, "If this trend continues, it could shift into fresh demand inflows."
However, he projected that the timing of any rebound will be driven more by geopolitical factors such as the Iran conflict than by market structure.
Bitcoin was trading at $68,178.93, up 2.32% from the previous day, as of 05:52 on the 1st on the Binance Tether (USDT) market.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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