Bitcoin and equities have performed strongly in the third quarter of 2024, with the S&P 500 experiencing its best performance since 1997 and Bitcoin surging over 7% in September. Hedge funds are placing more bets on increasing IT stocks than short positions. Market analysts expect challenges as Q3 earnings reports begin, which could test the high values of equities and Bitcoin. However, Bitcoin may benefit from any dip in equities due to its nature as a risk-on asset. Technical analysis suggests a weakening bullish momentum for Bitcoin, with the MACD indicator showing a bearish crossover and the RSI indicating a potential overbought scenario.
- Content Editor ( coinedition.com )
- 2024-09-30
Bitcoin and Equities Defy September Slump with Strong Q3 Performance