Odaily Planet Daily News Compass Point analyst Ed Engel said in the latest report: "Bitcoin continues to show resilience... up 4% week-on-week, while the S&P 500 fell 6%. Historically, Bitcoin's correlation with stocks has been close to 1.0 during macro sell-offs; however, its 30-day correlation with the S&P 500 is only 0.65.
While we are optimistic about Bitcoin's recent decoupling, the recent strength has been accompanied by light trading volume, reducing confidence in Bitcoin's ability to break through the $93,000 resistance level without major catalysts such as Fed easing or tariff agreements. That said, long-term Bitcoin holders remain firm, and Strategy purchases are picking up as Bitcoin liquidity declines... These factors can further support its resilience against the backdrop of stock and fixed income volatility." (CNBC)