Bitcoin price action decouples from stock markets, but not in a good way
Cointelegraph
Published May 28, 2022 03:00PM ET
Updated May 28, 2022 05:00PM ET
This week the stock markets began to flash a little green and Bitcoin (BTC) is decoupling from traditional markets but not in a good way. The cryptocurrency is down 3% while the Nasdaq Composite tech-heavy stock market index is up 3.1%.
May 27 data from the United States Commerce Department shows that the personal savings rate fell to 4.4% in April to reach the lowest level since 2008 and crypto traders are worried that worsening global macroeconomic conditions could add to investors’ aversion to risky assets.
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Written By: Cointelegraph
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