Market Cap
$1.55T
24h Volume
$33.65B
Dominance
58.1%
How Bitcoin fits into the macro picture
Bitcoin's -0.82% relative underperformance to the dollar reflects continued macro sensitivity as markets position for the FOMC meeting. The 0.56 rolling correlation with the S&P 500 keeps BTC tethered to risk asset flows, while the near-zero 0.05 correlation with gold indicates it's trading as risk asset rather than monetary alternative. Stablecoin expansion of $5 billion provides crypto-native liquidity buffer for institutional demand.
BTC underperformed the dollar by 82 basis points today, maintaining its inverse relationship while correlating 0.56 with equities over 90 days
| Asset | 24h | YTD | BTC Edge |
|---|---|---|---|
| SPX | +0.80% | +3.26% | -17.10% |
| QQQ | +1.95% | +6.85% | -20.69% |
| XAU | +0.03% | +0.24% |
Bitcoin heads toward its strongest monthly performance since late 2024, supported by $5 billion in new USDT issuance that expands crypto-native buying power. The stablecoin growth creates liquidity infrastructure for sustained buying, while equities hitting new highs suggest risk-on sentiment is overriding geopolitical concerns from Iran tensions.
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Next briefing: 2 AM CET
| -14.08% |
| DXY | -0.26% | +1.57% | -15.41% |
| ETH | -0.69% | -5.22% | -8.62% |
| SOL | -0.01% | -18.14% | +4.30% |
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