Cryptocurrencies Continue to Outperform the Stock Market: Canaccord
Summary
The digital assets sector is outperforming the stock market, with bitcoin (BTC) leading, showing a 140% year-on-year increase, compared to ether's (ETH) 60% and the S&P 500's nearly 30%. Bitcoin historically rallies 6-12 months post-halving, potentially starting a rally between now and April. A 50 basis points interest rate cut by the Federal Reserve boosted equities and digital assets. A decline in BTC could be healthy long-term, with a rise in ether and other digital assets. BTC's correlation to risk assets is currently 0.4. Stablecoin supply increased by 7% in the third quarter.
