Equities and Bitcoin surged in Q3, defying typical September downturns with strong performances.
Risk-on sentiment increases as hedge funds favor IT stocks and China boosts property support.
Bitcoin shows short-term weakness but may see further gains if bullish momentum returns.
Bitcoin and equities have closed out the third quarter of 2024 with strong performances, defying forecasts and avoiding the typical September downturns. The S&P 500 has climbed 5.1% for the quarter, its best performance since 1997.
Bitcoin has surged over 7% this month, one of its strongest September performances ever. This signals solid sentiment, even as concerns linger in the broader market.
Goldman Sachs reports that hedge funds are actively placing three times more bets on increasing IT stocks than short positions.
Crypto Market Outlook: Can Bitcoin Sustain Momentum?
Market analysts expect the equity rally to face challenges as Q3 earnings reports begin in mid-October. High values in both equities and Bitcoin may be tested.
Read also: Crypto’s Correlation with Equities: A Closer Look at Market Trends
However, Bitcoin could benefit from any dip in equities due to …
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