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Bitcoin has approached a critical watershed
Over the past seven days, the crypto market has gained over 8.3%, bringing its capitalisation to $1.17 trillion, the highest since mid-August. The market has reached a plateau where it stabilised from late June to mid-August. The dive back then was due to the spike in government bond yields, which suppressed global risk appetite. This factor is no longer an obstacle and may even be playing into crypto’s hands. But we must warn that such a link can only work while the stock market’s retreat is relatively organised. A solid risk-off momentum will almost inevitably trigger institutional selling in crypto. Bitcoin ... (full story)