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Bitcoins weakness against the wider market has reached its highest point ever.
It is now the only macro asset not in expansion.
It was very tightly correlated to IGV for years, all the way until a few weeks ago.
Now, even IGV has played out its expanded flat correction...
While Bitcoin fails to capture the momentum.
At this moment, Bitcoin has completely decoupled from every other macro asset, for the first time since it was created.
Why is this happening?
I honestly don't know.
But very soon, if it does not respond to the wider macro forces and catch up...
We will have to accept that Bitcoin now operates in a vacuum and it will re-define how it is viewed as an investment vehicle.
Will be the first time any macro asset has created its own unique path and ignored the underlying forces that govern financial markets.
We probably have a week or two at most for this to play out, whichever way it goes.