Spanish banking giant Cecabank has officially teamed up with crypto exchange Bit2Me to launch an all-in-one platform that offers crypto services to traditional financial institutions. With this, Cecabank cements itself as one of the leading adopters of digital assets in Spain and Portugal. Inside the CecaBank-Bit2Me partnership The new solution developed by Cecabank and Bit2Me will offer real-time access to the crypto market, provide custody services, and provide a trading engine with over 100 assets available, as well as support full trade execution. Through their partnership, Bi2Me will provide trader routing and trade execution services, while Cecabank will ensure compliance, operational security, and asset custody. Executives of Cecabank and Bit2Me Both companies reached an agreement in May 2024 to accelerate widespread adoption of digital assets in banking and the corporate world. Fast-forward to today; their joint platform is complete and awaits final clearance from the Spanish Securities Market Commission (CNMV)…. Read More at Coingape.com
Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.
Grab a coffee as we dissect Bitcoin’s place in mainstream finance. The narrative of the pioneer crypto decoupling from traditional equity markets gains significant attention, but is it ready for the next step?
Crypto News of the Day: Bitcoin Still a Diversifier, Not a Reliable Hedge, RedStone Exec Says
BeInCrypto’s recent US Crypto News series in April explored whether the digital gold narrative was breaking down as Gold ascended to new highs while Bitcoin lagged.
The report came after extensive advocacy for Bitcoin as digital gold, with many presenting it as a safe-haven asset against negative market price movements.
“Primary use case for Bitcoin seems to be a store of value, aka ‘digital gold’ in a decentralized finance (DeFi) world,” the US Treasury stated recently.
However, recent findings beg the question: Is that time finally here? BeInCrypto contacted RedStone to ask: Is Bitcoin a hedge for traditional markets?
The response was insightful, with key takeaways from Marcin Kazmierczak, co-founder and COO of the leading cross-chain data oracle provider RedStone. According to Kazmierczak, data support Bitcoin’s role as a portfolio diversifier.
Kazmierczak cited analysis of Bitcoin and S&P 500 data from the past 12 months of open American market days. They analyzed on weekly and monthly timeframes.
Bitcoin correlation on a 7-day timeframe. Source: RedStone
For the 7-day correlation, which provides a more short-term outlook, they noted F periods when BTC exhibited a strong negative correlation with the American stock markets.
“These are the periods when many called for BTC’s decoupling from the broader markets,” he explained.
However, the 7-day aggregation is a short-term metric, making it susceptible to influence from market noise. The 30-day chart provides a clearer representation.
Bitcoin correlation with S&P on a 30-day timeframe. Source: RedStone
This timeframe reveals several shifts between modest positive, near-zero, and slightly negative correlations throughout the 12 months.
Bitcoin May Not Be Ready to Replace Traditional Hedges
He explained that Bitcoin exhibited variable correlation with the S&P 500 (SPX) over the past year.
This variance, he said, does not support positioning Bitcoin as a replacement for traditional hedges like gold or bonds.
“With correlations ranging from -0.2 to 0.4, Bitcoin demonstrates a variable relationship with equities rather than providing the consistent negative correlation truly needed for effective portfolio protection,” Kazmierczak told BeInCrypto in the interview.
He observed that institutional players still fundamentally classify Bitcoin as a risk-on asset. According to Kazmierczak, this range indicates that Bitcoin operates with periodic independence from traditional equity markets.
He believes the correlation is generally modest enough to provide portfolio diversification benefits. However, the variance nullifies Bitcoin from functioning as a reliable counter-movement hedge.
“This relationship puts Bitcoin in a diversifier category rather than a haven asset…Bitcoin can add diversity to a portfolio but won’t reliably protect against stock market crashes since it doesn’t consistently move in the opposite direction,” he added.
Nevertheless, the RedStone executive articulated that if Bitcoin truly transitions to being treated as a safe-haven, risk-off asset, it would mark the most profound asset narrative transformation in modern financial history.
“I believe that’s possible. But not in such a short timespan as crypto believers would like it to be,” Kazmierczak concluded.
Chart of the Day
Bitcoin vs S&P 500 performance: Source: TradingView
The chart suggests Bitcoin’s performance has often diverged from traditional equity markets, especially in 2024-2025.
However, this does not definitively indicate a permanent decoupling or consistent negative correlation with equities.
While Bitcoin outperformed at times, it still shows periods of correlation with the S&P 500, indicating its role in portfolio protection remains uncertain and context-dependent.
Shiba Inu price is recovering and is up by 33% from its lowest point this month. This performance follows that of Bitcoin and most altcoins. CoinGlass data highlights the significance of the key price at $0.00001382 and its potential impact on 72 billion tokens, currently worth about $1 million.
Key Shiba Inu Price to Watch as 72 Billion Face Liquidation Risk
Shiba Inu price has rallied in the past few days. This trend may continue if Bitcoin price continues rising now that it has crossed the important resistance level at $90,000 for the first time in a month.
The chart below provides the SHIB exchange liquidation map. The high orange bars in this chart show the positions that have substantial leverage or debt. In this chart, the red lines are the cumulative longs, while the green lines are the cumulative shorts.
The long positions peak at about 487.8k at around $0.0000132, while the short positions are at 192k and peak at the present price. Long traders hope to make a profit when the price rise, while short-sellers make money when the price falls.
The interpretation of this chart is that a drop below the key support at $0.00001382, about 192k long positions will start being liquidated. On the other hand, if this price rises above that level, these short positions worth about 842.1k will liquidate. Short liquidations often leads prices higher.
SHIB Price Technical Analysis and Price Forecast
Technical analysis offers a good approach to predict where the value of SHIBgoes from here. Since the last week of February, the coin has been moving sideways, remaining between the key resistance level at $0.00001515 and the support at $0.00001025.
Shiba Inu price has formed a W pattern, also known as a double-bottom, which often triggers more upside. More gains are usually triggered when the price surges above the neckline of this pattern, in this case, at $0.00001560. This price coincides with the 23.6% Fibonacci Retracement level.
SHIB has crossed the important resistance level at $0.000013, the 50-day moving average. Therefore, more gains will be confirmed if the coin rises above $0.00001560. Such a move will see it rise to the crucial resistance at $0.00001945, the 61.8% or the 38.2% retracement level. This SHIB price forecastpoints to a 40% jump from the current level.
Shiba Inu Price Chart
The bullish outlook will be invalidated if the coin drops below the key support at $0.00001120. A move below that level will point to more downside, potentially to below $0.0000100.
