Analyst Willy Woo said Bitcoin’s current degree of decoupling from stocks is rare and was last seen in 2015, ahead of the 2017 bull market. He said the current market structure appears similar, with Bitcoin liquidity continuing to strengthen while stocks begin to show signs of vulnerability. Woo noted that stocks remained in a bull market in 2014 while Bitcoin entered an uncorrelated bear market. From 2015 to 2016, stocks traded weakly for two consecutive years as Bitcoin moved into a bull market, before Bitcoin surged in 2017 when stocks also turned bullish.