Bitcoin (BTC) bulls flipped the table on March 4's options expiry after a 14% rally on Feb. 28. Holding the price above $43,000 confirms a decoupling from traditional markets. For instance, the MSCI Emerging Markets Equities Index is down by 3.5% in five days, while the United States Russell 2000 Small-Capitalization Index gained 0.9%.
Investors are increasingly concerned about the ramifications of the U.S. Federal Reserve rate hikes expected throughout 2022. As a result, in the past 30 days, some big names took a hit. For instance, Paypal PYPL traded down 38%, META corrected 34% and Shopify (NYSE:SHOP) SHOP lost 31.5%.