News on June 13, according to the latest report from News on June 13, according to the latest report from Bitfinex Alpha, the U.S. economy is facing multiple challenges including a widening trade deficit, a slight improvement in wholesale inventory, and a slowdown in the growth rate of the service industry. While factory orders data released last week looked positive, the overall economic outlook reflects the economy's precarious balance. So far, markets are still bracing for a pause in rate hikes at this week's FOMC meeting.
In the cryptocurrency market, Bitcoin appears to be increasingly undervalued compared to the S&P 500. Bitcoin is trading around $25-26,000, well below its estimated fair value of $27,550, a discount of more than 8%, despite artificial intelligence fueling gains in U.S. stocks.
Historically, a move higher in the BTC-Gold correlation has preceded a similar move in the BTC-S&P500 correlation, heralding hopes of a reconciliation between Bitcoin and the S&P 500 and possibly sparking a “catch-up” rally in the coming months.News on June 13, according to the latest report from Bitfinex Alpha, the U.S. economy is facing multiple challenges including a widening trade deficit, a slight improvement in wholesale inventory, and a slowdown in the growth rate of the service industry. While factory orders data released last week looked positive, the overall economic outlook reflects the economy's precarious balance. So far, markets are still bracing for a pause in rate hikes at this week's FOMC meeting.
In the cryptocurrency market, Bitcoin appears to be increasingly undervalued compared to the S&P 500. Bitcoin is trading around $25-26,000, well below its estimated fair value of $27,550, a discount of more than 8%, despite artificial intelligence fueling gains in U.S. stocks.
Historically, a move higher in the BTC-Gold correlation has preceded a similar move in the BTC-S&P500 correlation, heralding hopes of a reconciliation between Bitcoin and the S&P 500 and possibly sparking a “catch-up” rally in the coming months., the U.S. economy is facing multiple challenges including a widening trade deficit, a slight improvement in wholesale inventory, and a slowdown in the growth rate of the service industry. While factory orders data released last week looked positive, the overall economic outlook reflects the economy's precarious balance. So far, markets are still bracing for a pause in rate hikes at this week's FOMC meeting.
In the cryptocurrency market, Bitcoin appears to be increasingly undervalued compared to the S&P 500. Bitcoin is trading around $25-26,000, well below its estimated fair value of $27,550, a discount of more than 8%, despite artificial intelligence fueling gains in U.S. stocks.
Historically, a move higher in the BTC-Gold correlation has preceded a similar move in the BTC-S&P500 correlation, heralding hopes of a reconciliation between Bitcoin and the S&P 500 and possibly sparking a “catch-up” rally in the coming months.
In the cryptocurrency market, Bitcoin appears to be increasingly undervalued compared to the S&P 500. Bitcoin is trading around $25-26,000, well below its estimated fair value of $27,550, a discount of more than 8%, despite artificial intelligence fueling gains in U.S. stocks.
Historically, a move higher in the BTC-Gold correlation has preceded a similar move in the BTC-S&P500 correlation, heralding hopes of a reconciliation between Bitcoin and the S&P 500 and possibly sparking a “catch-up” rally in the coming months.News on June 13, according to the latest report from Bitfinex Alpha, the U.S. economy is facing multiple challenges including a widening trade deficit, a slight improvement in wholesale inventory, and a slowdown in the growth rate of the service industry. While factory orders data released last week looked positive, the overall economic outlook reflects the economy's precarious balance. So far, markets are still bracing for a pause in rate hikes at this week's FOMC meeting.
In the cryptocurrency market, Bitcoin appears to be increasingly undervalued compared to the S&P 500. Bitcoin is trading around $25-26,000, well below its estimated fair value of $27,550, a discount of more than 8%, despite artificial intelligence fueling gains in U.S. stocks.
Historically, a move higher in the BTC-Gold correlation has preceded a similar move in the BTC-S&P500 correlation, heralding hopes of a reconciliation between Bitcoin and the S&P 500 and possibly sparking a “catch-up” rally in the coming months., the U.S. economy is facing multiple challenges including a widening trade deficit, a slight improvement in wholesale inventory, and a slowdown in the growth rate of the service industry. While factory orders data released last week looked positive, the overall economic outlook reflects the economy's precarious balance. So far, markets are still bracing for a pause in rate hikes at this week's FOMC meeting.
In the cryptocurrency market, Bitcoin appears to be increasingly undervalued compared to the S&P 500. Bitcoin is trading around $25-26,000, well below its estimated fair value of $27,550, a discount of more than 8%, despite artificial intelligence fueling gains in U.S. stocks.
Historically, a move higher in the BTC-Gold correlation has preceded a similar move in the BTC-S&P500 correlation, heralding hopes of a reconciliation between Bitcoin and the S&P 500 and possibly sparking a “catch-up” rally in the coming months.