Charles Schwab Analyst Jim Ferraioli Says Bitcoin Is Losing Momentum-Trade Appeal

Bitcoin has declined more than 16% over the past month, significantly underperforming the S&P 500, which gained about 5% during the same period.

According to Charles Schwab analyst Jim Ferraioli, the downturn is not primarily linked to Strategy’s recent Bitcoin sale. Instead, he said Bitcoin has been losing its appeal as a momentum-driven trade, prompting investors to look elsewhere for stronger returns.

Consequently, capital has increasingly flowed into other high-growth and high-interest areas, including artificial intelligence, gold, commodities, and newly listed companies, contributing to Bitcoin’s recent weakness.

Source: CoinDesk