Digital assets surpass traditional stock prices in recent market recovery, with Bitcoin (BTC) approaching the new record high and Ethereum (ETH), according to a new market memo from crypto trading company QCP Capital.
QCP: As Bitcoin approaches history, Crypto surpasses recovery stocks
“Crypto is outpacing the recovery stock price,” QCP wrote, pointing out the strength of Bitcoin in a recent session. BTC is below record highs amid improved macro conditions and rising market optimism.
Ethereum, which lagged behind Bitcoin in the rally, is beginning to fill the gap. The ETH/BTC ratio increased to 0.025, indicating that Ethereum’s performance against Bitcoin has become relatively strong.
QCP believes there is room for further rise in digital assets, especially with large milestones on the horizon. Coinbase was included in the S&P 500 index on May 19th.
The event is expected to attract billions of passive influxes and increase the visibility of crypto stocks among institutional investors.
“The prospect of Coinbase joining the S&P 500 will add fuel to the gathering and strengthen Crypto’s expanding integration into a broader financial system,” QCP said.
Market analysts are closely watching the ongoing decoupling from Cryptocurrency stock. BTC and ETH renew the volatility of the global market and the trust of investors in the digital asset sector.
*This is not investment advice.