Tech 
SPX and crypto 
BTC have been tightly correlated despite suggestions that crypto is a hedge. Therefore it's surprising to see the relative outperformance in tech this year.
In fact, Bitcoin has just gone negative on the year, while the stock market is up double digits again after a sharp April drawdown.
History suggests that crypto / stock relationship should return to a tight correlation, but how do we get there? Will stocks hold and crypto appreciate? Will crypto hold and stocks depreciate?
I think crypto could dig in around current levels, but there's a very good chance I'm mental lol!
SPX and crypto BTC have been tightly correlated despite suggestions that crypto is a hedge. Therefore it's surprising to see the relative outperformance in tech this year.In fact, Bitcoin has just gone negative on the year, while the stock market is up double digits again after a sharp April drawdown.
History suggests that crypto / stock relationship should return to a tight correlation, but how do we get there? Will stocks hold and crypto appreciate? Will crypto hold and stocks depreciate?
I think crypto could dig in around current levels, but there's a very good chance I'm mental lol!
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