CandleFocus More Than a Meme? Bitcoin Tops $100K as the McRib Returns
2024-12-05
Author: Content Editor
The return of McDonald's McRib sandwich in the US coincided with Bitcoin's price surpassing $100,000 for the first time. While the correlation between the availability of the sandwich and market strength seems ironic, it is not a foolproof trend. In previous instances, the return of the McRib preceded a decline in Bitcoin's price. However, some crypto watchers have taken note of the sandwich's supposed influence on the market. The McRib's availability has also been linked to favorable conditions in other markets, such as the S&P 500. Overall, the correlation between the McRib and Bitcoin's performance is seen by some as a humorous meme, but not a reliable indicator.
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