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Bitcoin and IGV performance diverge in recent moves, Tom McClellan notes
Tom McClellan observes a notable divergence between IGV and Bitcoin. While the two assets have been moving together recently, Bitcoin has not mirrored the recent drop seen in IGV.
McClellan suggests this could signal a changing relationship between the assets or a repeat of a previous pattern seen in mid-January.
McClellan has previously commented on positioning in other markets, noting that commercial traders were betting against oil prices reaching $200. He has also addressed indicator methodologies, clarifying the need to adhere to the original Zweig Breadth Thrust formula for accuracy. These observations add context to his latest tracking of correlations between technology stocks and Bitcoin.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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