Bitcoin nears $74K, but data suggests the bear market is not over
Bitcoin showed strength throughout the week, but BTC’s correlation with 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 with BTC and rising oil prices suggest that the 5-month correction from $126,000 might not be over.