Bitcoin's phenomenal price action in relation to equities

Bitcoins-phenomenal-price-action-in-relation-to-equities

Bitcoin's price has made a phenomenal comeback today as of the time of writing up by more than 8% and trading above $40k. While the breakout is positive some words of caution. 

Bitcoin's price has been pumping while equities have been trading rather weakly or even been moving downwards. A rather unusual move that we have rarely seen during the last weeks (both have been highly correlated lately). While both the S&P 500 and NASDAQ-100 are trading slightly green by now this suggests that the price pump of bitcoin might be artificial and won't necessarily last. 

Considering the positive jobs report from the US today, that gives further green light to the FED to tighten I would have expected the price to react in the opposite direction. 

Of course, we also cannot rule out that we might see bitcoin decoupling from other assets and that this is actually a breakout that can be sustained. So be careful out there when taking any positions. The road ahead is likely volatile.