Why Hasn’t Bitcoin Followed Stocks Rallying On Positive Vaccine Data?

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Overnight, news broke that early trial human patients developed a “robust” immune response to a potential virus vaccine from Moderna. Stock futures soared over the news, and the stock market opened today higher as a result. But even despite an ongoing correlation between Bitcoin and the S&P 500, the cryptocurrency isn’t following this pump. What’s the reason behind Bitcoin lagging on positive news that sent the stock market back to retest recent highs? Early Stage Clinical Trials Show Robust Immune Response, Stocks Soar On The News As soon as the pandemic hit, it became clear that the only way to stop its spread would be through a vaccine. Until one was ready, the world was likely stuck to abide by any lockdowns imposed by government officials. Thus began an arms race between pharmaceutical giants under the gun from world leaders to come up with a working vaccine. New peer-reviewed data…

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