Bitcoin’s recent performance outshining stock markets is drawing attention. According to a crypto analysis firm, Bitcoin 
$106,862 is assuming its role as a safe haven amidst a wave of stock sell-offs.
Positive Divergence in Crypto
Data indicates that Bitcoin has recorded an increase of over 15% this month, while broader indices have observed slight declines. This situation supports the notion that Bitcoin is beginning to move independently of market fluctuations. Some experts suggest that the impact of political and economic uncertainties is being felt less in the cryptocurrency markets.
The Bitcoin Risk Index, shared by Swissblock, shows a positive trend in the current risk environment. The index is calculated by combining blockchain data and cost-based metrics, indicating a decrease in selling pressure and an increase in upward potential.
Swissblock representative states: “It is confirmed that Bitcoin has diverged from stocks. Even if sentiment towards the trade war changes, no significant impact will be observed on Bitcoin. Like gold, it has potential for strengthening. An upward pressure is forming.”
Risk Analysis
The firm emphasizes that signals for decline are decreasing, while short-term corrections may precede larger upward movements. Given Bitcoin’s support levels, it is anticipated that an upward trend may continue following short-term pullbacks around the $89,000 mark.
Additionally, another statement from Swissblock shared that while selling pressure has not completely dissipated, downward risk is steadily diminishing. Consequently, a cautious optimism among Bitcoin investors has taken root.
Currently, Bitcoin trades around $93,826, with surpassing certain resistance levels potentially paving the way for new upward movements.
Overall, it is observed that Bitcoin operates above solid support thresholds and the effects of market uncertainties remain limited. A significant detail for investors is that current indicators signal potential upward steps.
