For its price to grow, there has to be a decoupling.
According to Grizzly, in these highly inflationary times, the predicted long-term upward trend might follow if BTC detaches from assets such as equities and acts as a store of value.considered BTC’s Net Unrealized Profit/Loss ratio . The analyst found that the current market situation was similar to the NUPL index movement in the spring of 2019 when it broke its 365-day moving average and BTC experienced strong bullish momentum.
According to Baro Virtual, a successful hold of the 365-day MA and overcoming the resistance range could lead to solid bullish momentum. “Also very important is the question of whether there will be a final decoupling of Bitcoin and the US stock market in the current cycle or whether Bitcoin will become a hostage to traditional macroeconomic indicators.”On 1 February, the Federal Reserve raised interest rates by a quarter of a percentage point, marking the smallest interest rate adjustment since March. On this news, BTC’s and ETH’s prices fell slightly by 0.2% and 0.3%, respectively.
Source: Digital Coin News (digitalcoinnews.net)
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