{"id":127846,"date":"2025-04-24T05:18:01","date_gmt":"2025-04-24T05:18:01","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=127846"},"modified":"2025-04-24T05:18:01","modified_gmt":"2025-04-24T05:18:01","slug":"bitcoin-is-the-cleanest-shirt-in-the-dirty-laundry-bitfinex","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=127846","title":{"rendered":"Bitcoin is the \u2018cleanest shirt in the dirty laundry\u2019 \u2014 Bitfinex"},"content":{"rendered":"

Source: Cointelegraph.com NewsBitcoin has shown resilience compared to the broader financial market amid macroeconomic uncertainty, but analysts caution it\u2019s still too early to know whether the trend will last.
\n\u201cWe\u2019re not quite there yet, but if Bitcoin holds strength through the upcoming CPI, as well as ongoing Powell-related and equity earnings volatility, the decoupling narrative could evolve from \u201ctemporary divergence\u201d to \u201cregime change,\u201d Bitfinex analysts said in an April 23 markets note viewed by Cointelegraph.
\nBitcoin\u2019s relative strength yet to be proven as structural
\nThe analysts said that while Bitcoin\u2019s (BTC) relative strength against US equities \u201cappears real,\u201d it is yet to be confirmed as structural. The analysts warned that Bitcoin has previously seen short periods of outperformance, only to eventually fall back in line with the broader market.
\nCointelegraph recently reported that Bitcoin is increasingly abandoning its stock correlation to copy gold\u2019s upside. At the time of publication, Bitcoin\u2019s price has posted gains of 7.68% over the past 30 days. Meanwhile, the S&P 500 and the Nasdaq are down 6.79% and 8.14%, respectively, as per Google Finance data.
\nBitcoin is trading at $93,290 at the time of publication. Source: CoinMarketCapOver the same period, Nvidia (NVDA), which has outperformed Bitcoin over the past decade, fell 15.4%. The analysts attributed the decline to the \u201ceffective ban on advanced chip exports to China and tariff-driven volatility.\u201d In May 2024, Swan Bitcoin CEO Cory Klippsten said there is a \u201cnear zero chance of Nvidia outperforming Bitcoin over the next 10 years.\u201d
\nThe Bitfinex analysts described the current crypto market as a \u201chybrid state,\u201d with rising macroeconomic risk on one side and an uptick in spot Bitcoin ETF inflows on the other.\u00a0
\nApril 22 alone saw $913 million in spot Bitcoin ETF inflows, the largest since late January.
\n\u201cThis backdrop favors Bitcoin as the \u201ccleanest shirt in the dirty laundry.\u201d
\nThey added that this reinforces Bitcoin\u2019s position as a strong store of value, with Bitcoin dominance rising to levels not seen since late 2021.\u00a0
\nAt the time of publication, Bitcoin’s dominance was 64.39%, according to TradingView data.
\nRelated: Bitcoin holders back in profit as new capital enters the market \u2014 Is $100K BTC price next?
\nCrypto market participants will be closely watching April\u2019s Consumer Price Index (CPI), published on May 13, after March data showed a cooling trend that some saw as a short-term bearish signal for Bitcoin.
\nMarch\u2019s CPI came in at 2.4% year-over-year, down from 2.8% in February, the lowest level since February 2023, according to the US Bureau of Statistics.
\nMeanwhile, some crypto analysts caution that other indicators suggest Bitcoin\u2019s rally may not last.
\n10x Research head of research Markus Thielen said, \u201cGiven that our stablecoin minting indicator has yet to return to high-activity levels, we remain cautious about the sustainability of the current Bitcoin rally.\u201d\u00a0
\nMagazine: Former Love Island star\u2019s tips on how to go viral in crypto: Van00sa, X Hall of Flame
\nThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"

Source: Cointelegraph.com NewsBitcoin has shown resilience compared to the broader financial market amid macroeconomic uncertainty, but analysts caution it\u2019s still too early to know whether the trend will last. \u201cWe\u2019re… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127846"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=127846"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127846\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=127846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=127846"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=127846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}