Digital gold is what they call it. $BTC tagged a 52-week high after hours. Gold sold and oil dumped. BTC/GLD just printed the 98th percentile. Correlation with gold collapsed to 0.13. That's the identity breaking, not a hedge confirming. It ran the same book as mega-cap tech. Fear and Greed is still sitting around 34 while price tags highs. If this stretch mean-reverts, crypto takes the hit first. GLD was the hedge today. Bitcoin was the chase.
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