 | According to Mark Connors, 3IQ head of research, bitcoin is outperforming traditional safe-haven assets due to regulatory headwinds, banking sector uncertainty, and the forced exit of bad actors in the industry. Connors notes that recent bank failures are putting traditional finance markets at risk, while the US is tightening regulatory screws on the digital asset industry. Bitcoin's price performance diverges from other digital assets and traditional financial assets such as gold and US 10-year Treasuries. Additionally, Connors sees bitcoin rallying due to the enforced departure of some of the industry's biggest players. Overall, the uncertainties and risks in traditional markets are driving investors towards bitcoin, leading to its recent price surge. [link] [comments] |
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