Summary
- It was noted that if the upward trend of the US stock market continues, a positive impact can be expected for Bitcoin (BTC) as well.
- It was explained that recently, BTC has become even more closely correlated with high-quality growth stocks.
- It was reported that over the past month, more than $4 billion has inflowed into BlackRock’s BTC spot ETF (IBIT).
Although Bitcoin (BTC) has not shown a clear rebound, there is analysis that as long as the upward trend in the United States stock market continues, a positive impact on BTC can also be expected.
According to CNBC on the 30th (local time), Adam Parker, founder of Trivariate Research, explained, "BTC used to show similar movements to stocks in the past, but recently its correlation with high-quality growth stocks has become more pronounced."
He added, "More than $4 billion has flowed into BlackRock's spot BTC ETF (IBIT) in just the past month," noting, "This is further evidence that interest in BTC remains high in traditional financial markets."
Meanwhile, as of 05:25 on the 1st, BTC is trading at $107,466.84 on the Binance Tether (USDT) market, up 0.09% from the previous day.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
