@thebtchousewife
Over the past week, Bitcoin has demonstrated notable resilience compared to the broader stock market. While the S&P 500 experienced a decline of approximately 4.3%, Bitcoin’s price increased by about 3%.
Trader Eugene: “I’ve never seen such obvious ‘relative defensiveness’ between Bitcoin and the stock market.”
BlockBeats News, April 5 – Trader Eugene posted that:
“On this point, even God himself seems to be defending Bitcoin — I believe I’ve never seen such a clear relative defensiveness between Bitcoin and the stock market (meaning Bitcoin is showing stronger resilience than the U.S. stock market during a market downturn).”
Earlier today, Eugene also posted:
“Bitcoin’s support level today is extremely solid. Its relative strength during the market crash is now impossible to ignore. I’ve opened a position at the $83,200 price level — equivalent to S&P 5100. If the stock market rebounds, it will theoretically help push Bitcoin even higher.”
Pic source: Jim Wyckoff
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