Bitcoin price action decoupling from the stock market, but not in a good way

Bitcoin price action decoupling from the stock market, but not in a good way

The stock market started a little green this week, and (bitcoin) are decoupling from traditional markets, but not very well. The cryptocurrency fell 3%, while the tech-heavy stock market index rose 3.1%.

Data from the U.S. Department of Commerce on May 27 showed that individuals savings Interest rates fell to 4.4 percent in April, the lowest level since 2008, as cryptocurrency traders worried that deteriorating global macroeconomic conditions could fuel investor aversion to risk assets.

USDT/BTC margin lending ratio of OKX exchange. Source: OKX
Bitcoin 30-day options 25% delta skew on the Deribit exchange. Source: Laevitas.ch