The growth of the five biggest tech companies – Alphabet, Amazon, Apple, Meta, and Microsoft – is expected to slow in Q3, but how might this impact crypto?
With tech stocks and crypto markets now demonstrating remarkable correlation, any negative news for the big tech could point to trouble for cryptocurrency.
Traditional Markets and Crypto Show Correlation
In a side-by-side comparison posted earlier this month to Twitter, one user demonstrated how traditional markets and crypto have become increasingly linked. Since early 2021, traditional markets and crypto have shared general trend lines as well as spikes.
This led that user, who goes by the pseudonym “Jumbo” on Twitter, to conclude that Wall Street “treats Bitcoin and crypto simply as an extension to the tech sector.”
Whether individual investors come to the same conclusion, the…
