Bitcoin dumps further below $30K, while stocks catch a bid

Bitcoin (BTC-USD) is experiencing weakness in Thursday morning trading even though stocks (SP500) are rising, a rare dynamic given their strong correlation over the past year. Moreover, bitcoin (BTC-USD -1.9%), which hit an intraday low of $28.08K at around 5:00 a.m. ET, is now changing hands at $29.1K as of shortly before 10:30 a.m. ET. Ethereum (ETH-USD -5.9%) is seeing even more volatility as the token craters to $1.85K, a modest recovery from $1.75K in early trading. On the flip side, stocks are getting a lift as investors shrug off downbeat earnings as well as a slew of poor economic data. All three major U.S. stock averages are gaining at least 1%, with the tech-heavy Nasdaq (COMP.IND) +1.5% in the lead. While bitcoin (BTC-USD) trades more than 55% below its all-time high in November 2021, some strategists suggest plenty of upside from current levels. Yves Lamoureux, the president of macroeconomic research firm Lamoureux, is predicting