🤔$BTC Ecoinometrics: #Bitcoin is losing ground against the stock market

Many investors are optimistic about the latest data.

Prices were flat this month (CPI). The job market is easing up a bit. And the Federal Reserve is likely to cut rates between now and next year.

This makes risk assets look very attractive.

The stock market benefited from this. Since last month, the #Nasdaq has nearly doubled its performance for the year.

You’d think Bitcoin would benefit too. But it hasn’t. Bitcoin is stuck in the mid-$60k range and can’t break out.

Bitcoin will eventually follow the NASDAQ’s trend. I don’t see any reason why it wouldn’t. But right now, demand is weak.