Bloomberg Analyst Surprised by Bitcoin's Strength: Is It Finally Decoupling from the US? - Coin Bulletin

Bitcoin (BTC) managed to stay above the $80,000 level despite the wave of selling in risky assets and the drop in gold prices. This situation has surprised analysts.

James Seyffart was astonished by Bitcoin's strong resistance at (BTC); he stated that he was surprised that BTC managed to stay above the $80,000 level despite the sell-offs in risky assets and the decline in gold prices.

The resistance demonstrated by Bitcoin recently continues to attract attention in the cryptocurrency market. Bloomberg analyst James Seyffart stated that it is an unexpected situation for Bitcoin to manage to stay above 80,000, especially after the widespread sell-offs seen in risky assets. In fact, the fact that Bitcoin remains at this level despite even gold losing value has surprised some analysts.

The ‘Decoupling’ coming with BTC (Disconnecting) discussion

Adam Back, the founder of Blockstream, stated that he has always assessed the relationship between Bitcoin and traditional markets artificially. Back expressed that Bitcoin has started to move independently from traditional markets, stating that this process could be referred to as "decoupling".

Is a divergence between Bitcoin and traditional markets happening?

Back stated that market makers are trying to increase the correlation between Bitcoin and traditional markets due to the fiat liquidity issues experienced in the Bitcoin market. However, recent developments suggest that Bitcoin has shown movement on its own, breaking away from this correlation.