Crypto Update | Bitcoin's Correlation with Risk Assets

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On "Markets Daily," —Philippe Bekhazi, CEO and Founder of XBTO, joins Markets Daily with insight on Bitcoin's current position and the potential impact of economic data on the crypto market. They also discuss the trend of Bitcoin forming an upward triangle and its correlation with risk assets. Bekhazi talks about the potential approval of an Ether ETF by the SEC and the significance of a spot Bitcoin ETF in Hong Kong.

Takeaways |

• Crypto assets experienced a drop following the CPI report but quickly recovered, indicating resilience in the market.
• Bitcoin is forming an upward triangle pattern, suggesting the potential for new highs in the future.
• Bitcoin still exhibits correlation with risk assets in the short term but has its own characteristics and flows in the long term.
• The potential approval of an Ether ETF by the SEC could have an impact on the price of ETH.
• The approval of a spot Bitcoin ETF in Hong Kong would bridge traditional finance with crypto finance and open up new opportunities.

LINKS |

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XBTO

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This episode was hosted by Helene Braun. “Markets Daily” is produced and edited by senior producer Michele Musso, and executive producer Jared Schwartz alongside Senior Booker, Melissa Montañez—all original music by Doc Blust and Colin Mealey.