Traditionally $BTC as a risk on asset has had a direct correlation with stocks.
The ETF approvals brings easier access to crypto assets for traditional markets, and we should start considering a change in relationship between $BTC and $ETH with stocks.
Not in terms of price movement, but accessibility and capital flows.
Stocks rallying so hard recently MIGHT very well have stolen liquidity from crypto.
If this is the case, then I would argue that we could see capital flowing in a slightly different way as before.
Previously: $BTC -> Large cap altcoins -> Micro caps.
Now: Stocks -> $BTC -> Large cap altcoins -> Micro caps.
Stocks are already correcting, but I don’t think it’s the end of “risk on” environment yet.
Bullish catalyst like a Trump presidency and rate cuts are still in the horizon.
This recent stock market correction could very well fuel our next leg up as capital from retail traders flow from stocks and into $BTC.
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