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Bloomberg Analyst: Bitcoin Shows Signs of Peaking, Systemic Risks Rising
Golden Finance reported that Bloomberg Senior Commodity Strategist Mike McGlone posted on the X platform that Bitcoin is showing signs of peaking, with its correlation to U.S. stocks increasing and moving closer to the S&P 500 index (Bitcoin’s 16-quarter Beta value is about 3 times that of the S&P 500 index, while it is about 1 time compared to gold). The excessive growth of the latter should have normalized long ago and may continue to favour gold. Analyzing Bitcoin’s four-year Halving cycle, the systemic risk of Bitcoin is currently rising, while that of gold is the opposite.