- Bitcoin and Ethereum both rose in value by 10.7% and 14.7% respectively over the last week.
- BTC You can also find out more about the following: ETH were trending over the S&P 500 at press time.
Bitcoin [BTC] and Ethereum [ETH] In recent weeks, the price of some stocks has risen significantly. Some previous highs have been surpassed.
These upward trends in the prices of these crypto assets have caused them to diverge from the S&P 500. What are the possible implications of this for crypto assets.
Bitcoin and Ethereum outperform traditional assets
AMBCrypto’s analysis of Santiment Crypto assets, which include bitcoin and other crypto currencies, are a growing asset class. Bitcoin You can also find out more about the following: Ethereum, exhibited stronger growth than the S&P 500 in the past week.
There was a 10% increase for BTC, a 14.7% increase for ETH, and a modest 0.5% increase for the S&P 500. Crypto asset classes have shown a positive return over the past week.
Analysis of Bitcoin’s Trend
AMBCrypto’s analysis of daily timeframe trends of Bitcoin The 8th of march showed a 2% rise, keeping the $68,000 range.
The price trend that day was marked by a price surge in the $70,000 range.
It was the first time since over a year that this level had been reached, giving hope of a possible sustained rise.
Bitcoin, as of the time this article was written, was trading at around $68,450. This represents a slight increase of less than 1% and continues to show a bullish trend.
Ethereum is still in a bullish trend
AMBCrypto takes a look at the current price of Bitcoin Ethereum On the 8th March, ETH, like Bitcoin, reached a high. ETH was able to test the $4,000 level despite a slight rise of 0.42%.
As of the date this article was written, the price of gold was around $3900, a 0.7% gain.
As indicated by the Relative Strength Index, Ethereum maintained a strong bullish trend as of press time.
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The current trends in the S&P 500, Bitcoin, and Ethereum suggest a lack of correlation between equities and crypto assets. This divergence increases the likelihood of a long-term bull market.
The bullish trends that have been observed in BTC and ETH for the past couple of weeks are a good indicator that the markets could be about to transition into a bull market.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
Source: ambcrypto.com