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JPMorgan analysts have reported that Bitcoin exhibits the highest correlation with small-cap technology stocks, particularly those within the Russell 2000 tech sector. This finding suggests that Bitcoin's price movements are closely aligned with those of these stocks, reinforcing its classification as a high-beta asset. The report challenges the prevailing notion of Bitcoin as 'Digital Gold' and instead positions it more as a risk-on investment. Notably, during the 2023 US banking crisis, Bitcoin's value surged due to its perceived lack of counterparty risk, as highlighted by Cathie Wood from ARK Invest.
Bitcoin And Small-Cap Tech Stocks Move In Sync, JPMorgan Reports In a report, JPMorgan analysts found that Bitcoin has the highest correlation with small-cap tech stocks, particularly those in the Russell 2000 tech sector. Their report highlights that both Bitcoin and altcoins… https://t.co/bDGPc518Li
JPMorgan analysts suggest #Bitcoin's price movements resemble those of small tech stocks, reinforcing its status as a high-beta asset 💴 This challenges the narrative of $BTC as 'Digital Gold' and aligns it more with risk-on investments. #cryptomarket #BitcoinRecovery https://t.co/ckeUBzsik6
Cathie Wood from ARK Invest argues that Bitcoin is unique, serving as both a 'risk-on' and 'risk-off' asset. During the 2023 US bank crisis, Bitcoin surged due to its lack of counterparty risk. https://t.co/WaEZ8Qg9mX
