Market Cap
$1.59T
24h Volume
$24.81B
Dominance
58.3%
How Bitcoin fits into the macro picture
Bitcoin's 2.3% gain outpaced traditional assets with S&P 500 up 0.8% and gold declining 0.86%. The 0.54 correlation with equities over 90 days shows Bitcoin still trading as a risk asset rather than monetary good. Dollar strength remained minimal at 0.04%, providing neutral backdrop for risk assets heading into the FOMC meeting.
BTC correlation with S&P 500 at 0.54 over 90 days indicates continued risk-asset behavior rather than decoupling.
| Asset | 24h | YTD | BTC Edge |
|---|---|---|---|
| SPX | +0.80% | +3.26% | -14.96% |
| QQQ | +1.95% | +6.85% | -18.56% |
| XAU | -0.86% | -0.29% |
Large perpetual traders on Hyperliquid have steadily built long positions through February, March and April, with positioning now aggressively long as Bitcoin tags $80,000. The divergence between whale accumulation and negative funding rates historically resolves in favor of spot positioning when macro conditions stabilize.
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Next briefing: 2 AM CET
| -11.42% |
| DXY | +0.04% | +1.63% | -13.34% |
| ETH | +3.73% | -1.81% | -9.89% |
| SOL | +2.00% | -16.81% | +5.10% |
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