Bitcoin nearly overtakes $74K, as data suggests bear market is not over
Bitcoin showed remarkable strength throughout the week, but BTC’s correlation to tech stocks and its reactive spot ETF flows suggest the bear market isn’t over yet.
Key takeaways:
Bitcoin sits above $71,000 as weak US economic data and the US and Israel-Iran war drive investors toward scarce assets.
Tech stocks’ correlation to BTC and rising oil prices suggest that the 5-month correction from $126,000 might not be over.