Bitcoin risks wiping off its recent gains as fears of a vast stock downturn grows among researchers.
Both Bitcoin and the US benchmark have shown positive correlation since March 2020 sell-off.
The gains have appeared against an otherwise grim economic outlook led by the fast-spreading COVID-19 pandemic.
Risks of a sharp bitcoin price correction are growing as US stocks paint a similarly bleak market scenario.
Strategists at Goldman Sachs found that the five largest companies now cover 20 percent of the S&P 500 index’s market capitalization. The US benchmark, on the whole, trades 17 percent down from its February 2020 top, but its median stock is about 28 percent up within the same timeframe.
A stock market downturn underway | Source: Goldman Sachs, Bloomberg
That has narrowed the Market Breadth below levels that historically signal…
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