BTC and ETH May Break Link With Equities Market This Week
Santiment revealed that the next week will indicate whether the cryptocurrency market is still linked to the equities market. According to the post, the S&P 500 rose more than 6% while BTC and ETH traded flat. BTC and ETH posted 24-hour gains of 1.12% and 2.03% respectively. Santiment revealed in an X post earlier today that the next week will indicate whether the cryptocurrency market is still tied to the equities market or whether the digital asset market will enter into a bull run. According to the post, the S&P 500 index had a big week after the cryptocurrency market leaders Bitcoin (BTC) and Ethereum (ETH) cooled down. Since the S&P 500 index jumped more than 6% in the past 4 days while the leading cryptocurrencies traded flat, the coming week will reveal if the digital asset sector can finally rid itself of its link with the equities market. If cryptocurrencies are able to establish their independence, then they might be able to enter the next bull cycle, according to Santiment. At press time, data from the cryptocurrency market tracking website CoinMarketCap indicated that both ETH and BTC were able to print 24-hour gains. BTC was changing hands at $34,941.48 after its price rose 1.12%.