In accordance with Coindesk, bitcoin has shown a negative performance skew against the Nasdaq 100, falling more sharply during equity sell-offs than it rises during rallies. Wintermute's Jasper De Maere notes this skew has reached levels last seen at the bottom of the 2022 bear market, indicating investor exhaustion rather than strength. De Maere attributes the trend to reduced institutional and retail interest in bitcoin, slower ETF inflows, and lower market liquidity.
Bitcoin's Negative Skew Hits 2022 Bear Market Levels, Suggesting Market Exhaustion
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