BTC in the past week drops while stocks rise big time last Friday. But Why?
In the chart, BTC is still unable to get back inside the wedge & may be going lower.
It may be that investors are selling BTC to rotate into stocks & also bonds when they see the FED not overly hawkish & the $Dollar & 10 yr yield stabilizing & may be having a shortterm top.
It would be better if we can use BTC as a hedge against rising rates, rising inflation & falling stocks. That we need to see.
If the correlation of BTC with risk assets is still valid, this may be a bulltrap. Retails FOMO in last Friday may see a rugpull next week as they realize that the underlying conditions in the market remains unchanged.
Not trading advice