Is Bitcoin Decoupling from Stocks?
Some pretty solid price action here with Bitcoin over the last 24 hours. It has moved quickly from $84K up to $88K — even tapped $88.5K — and it still looks like there's strength behind the move.
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Meanwhile, Saylor added another $555 million worth of BTC over the last week and now holds around 2.5% of Bitcoin's supply. This has likely helped Bitcoin maintain its support level, as it looked like it was headed lower in the short term. However, that kind of demand certainly helped steady the price.
At the same time, equities have taken a hit — down around 3% today — and have been under pressure for a while now. It’s interesting to watch how Bitcoin has started to move a little differently. Too soon to call it a clear split, but BTC has definitely been outperforming traditional markets lately.
I’d like to be more aggressively bullish here, and there are encouraging signs, but we’re still at a critical resistance zone. Until we get a proper weekly close above $91k, it's hard to say this is a confirmed move.
A close above would shift the tone quite a bit. That kind of close would be enough for me to consider the downtrend done for now, and that we may be back on an upward grind.
Watching the Weekly Close
This could be an important week. On the weekly chart, we’re finally seeing BTC trade above the 10-week moving average — something that hasn’t happened since back in February. Right now, it looks strong, but still early. We want to see where this weekly candle closes — not where it starts.
Looking at the bigger picture, we’ve already had a sizable pullback — about 30% from the top. In a bullish phase, that should be about the extent of it. This area also lines up with prior highs from last year on the monthly chart. That kind of confluence matters.
That said, I’m not rushing into this. I don’t mind buying back higher if we see clear confirmation. I’d much rather wait and enter a strong move than try to time the bottom and risk getting caught on the wrong side.
Altcoins: Still Weak
As far as alts go, the story hasn’t changed much. Bitcoin dominance is pushing higher again — now at 64.3% — and that tells you where the capital is flowing right now. Most altcoins still look weak, still trending lower, and haven’t shown any clear signs of strength.
It’s not that they won’t have their moment — it’s just not now. When people feel like they’re making money again, they tend to get more aggressive — that’s usually when alts catch a bid. But we’re not there yet. Altcoins are getting short-term attention but can't hold their moves. That’s telling.
So for now, I’m keeping focus on Bitcoin.
Portfolio Overview
Stocks are continuing their downtrend, and since my portfolio is heavily weighted toward stocks, particularly tech stocks, it’s taking a significant hit equally across the board.
I’ve seen cycles like this before—markets are often a pendulum swinging between fear and greed. While it’s tempting to panic, I’m focusing on the long game.
I’ll stick to my strategy, weather this storm, and position myself for the inevitable upswing—because markets, like seasons, always change.
Thanks for reading
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Written by Timothy Assi, an Elite Popular Investor on eToro.
Not investment advice. eToro is a multi-asset investment platform. Your capital is at risk. For information and educational purposes only.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
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Indeed, I'd love to see Bitcoin to test the axis zone 91-92k followed by a pullback to form a higher low before charging up!