Bitcoin’s (BTC) price action has closely mirrored that of the US equity market in recent years, particularly the tech-heavy Nasdaq and the benchmark S&P 500.
Now, as fund managers stage a historic exodus from US stocks, the question arises: could Bitcoin be the next casualty?
Fund managers dump US stocks at record monthly pace
Investors slashed their exposure to US equities by the most on record by 40-percentage-points between February and March, according to Bank of America’s latest survey.
This is the sharpest monthly decline since the bank began tracking the data in 1994. The shift, dubbed a “bull crash,” reflects dwindling faith in US economic outperformance and rising fears of a global downturn.
With a net 69% of surveyed managers declaring the peak of “US exceptionalism,” the data signals a seismic pivot that could ripple