To be among the first to get these insights and other on-chain bitcoin market analysis directly to your inbox, subscribe now.This article covers some of the recent action in the bitcoin derivatives market, as well as touches on the progressing relationship in between bitcoin and the tradition financial system. The action in worldwide capital markets has been intense, with massive volatility across currencies, more selling in bonds and a quick bullish discrepancy for bitcoin, which excited the bulls.As bitcoin pressed back above $20,000, there was some chatter of a prospective decoupling, as bitcoin was up over 7% while U.S. equity markets were down approximately 4% over the last week. While we would certainly love to see a moment where bitcoin discovers relief during an increasingly turbulent environment in the legacy monetary system, we stay hesitant on this outcome over the near future, as the data simply does not support it.Some individuals took this chart to imply that bitcoin was decoupling from equitiesWe can not highlight enough that the existing trading environment for bitcoin is less about bitcoin itself and more about the dollar.
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