Decoupling in Motion: Crypto Finds Its Own Footing
The latest episode of The House View breaks down a key shift underway: crypto is starting to decouple from traditional markets – driven by structural demand, not just sentiment.
Martin Gaspar, Senior Crypto Market Strategist, sits down with Eliézer Ndinga, Global Head of Research at 21shares to unpack what’s driving the move.
Key takeaways:
- Crypto is showing signs of decoupling from traditional risk assets: Despite geopolitical volatility, crypto has shown lower correlation to equities – signaling it’s increasingly trading on its own fundamentals.
- Institutional demand is accelerating through ETFs and structured vehicles: ~$1.4B in recent U.S. BTC ETF inflows highlights continued momentum, with demand increasingly expressed through regulated access points.
- Stablecoins and on-chain activity reflect real usage, not just speculation: Stablecoin supply has surpassed $300B, reinforcing crypto’s role as a settlement and financial infrastructure layer.
- Ethereum and tokenization are driving the next leg of growth: ETH outperformance is tied to rising tokenized assets and increased developer activity across the ecosystem.
- On-chain markets are expanding into a 24/7 global trading layer: Platforms like Hyperliquid are enabling real-time trading of both crypto and traditional assets – extending markets beyond legacy trading hours.
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