Bitcoin's recent trading patterns have increasingly aligned with growth equities, challenging its traditional role as a digital hedge. A report by Grayscale highlights that Bitcoin's short- to mid-term behavior mirrors growth stocks more than a static store of value, as institutional adoption of exchange-traded products grows. This shift has been exacerbated by recent sell-offs in software equities, driven by changing expectations in the AI sector.
In parallel, BitMine Immersion Technologies has expanded its Ether holdings by 40,613 ETH amid market weakness, bringing its total to over 4.3 million ETH, valued at approximately $8.8 billion. Despite significant on-paper losses, BitMine remains committed to Ether's long-term potential. Meanwhile, BlackRock has launched a tokenized money market fund on Uniswap, marking a significant step in institutional DeFi adoption. The fund, BUIDL, is the largest of its kind, with over $2.1 billion in assets.
Additionally, Polymarket has filed a federal lawsuit against Massachusetts, challenging state-level restrictions on its prediction-market products. The case underscores ongoing regulatory debates in the rapidly evolving crypto space.
Bitcoin's Correlation with Growth Stocks Raises Questions on Its Role
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
