According to Cryptoslate, the trading price of Bitcoin remained stable around $84500 this week and did not experience significant fluctuations during the crucifixion day. Due to the offline nature of stock, bond, and commodity trading, the cryptocurrency market provides a rare window to understand investor sentiment in the absence of broader liquidity and institutional liquidity.
Traders are monitoring the progress of ongoing global trade during the holiday period and expect the Chicago Mercantile Exchange (CME) futures and bond markets to begin readjusting their positions after trading resumes. Prior to this, Bitcoin was one of the few real-time sentiment indicators in the macro environment, which is increasingly influenced by policy signals and cross asset volatility. However, even as the gold, oil, and stock markets respond to macroeconomic and geopolitical situations, Bitcoin remains at its original level. Unlike the correlation between stock futures and inflation sensitive assets, Bitcoin has performed better than most traditional assets in recent trading days.
