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Lance Roberts points to a shift in Bitcoin trading patterns, raising the question of whether Michael Saylor, once known as Bitcoin's biggest bull, could now be a threat to the cryptocurrency.
Roberts observes that Bitcoin used to act as a high-beta version of QQQ, closely following risk asset rallies. He notes that this relationship appears to be breaking down.
Roberts has tracked recent mean reversion in the semiconductor sector, examining the mechanics behind the rally in semiconductor stocks. He also reported that the largest U.S. firms account for nearly 80 percent of sales, with the top 20 companies generating a significant portion of revenue in his analysis of U.S. firm sales concentration. His recent focus turns to trading shifts in Bitcoin.