Crypto
U.S. stock market crowding seen behind bitcoin weakness, Binance Research says
Bitcoin’s recent weakness is being driven less by factors inside the cryptocurrency market than by extreme crowding in the U.S. stock market, an analysis said. Binance Research cited the CBOE Dispersion Index (DSPX), saying it hit 42, the third-highest level on record, signalling widening gaps in returns and funds concentrating in a few winners. It said past episodes of such stock-led flows were followed by bitcoin declines, but rebounds came after the pattern peaked.
