You need a "carry trade" (borrowing at a low interest rate and investing in an asset that provides a higher rate of return). The liquidity is there, there is yield and everyone else with access to the ocean of money is going to be buying stocks and pushing them higher. The answer is, Bitcoin is part of this "carry trade" and when liquidity is being injected into the market like last week, up goes Bitcoin. It been noted before that Bitcoin seems to be correlated to stocks and here it is again, this time intraday and very clearly so. So for your riskless trade of "borrow a billion dollars," buy Bitcoin now and sell the futures contract ‘for delivery,’ you have a 9% carry trade, a sweet $90 dollar profit per annum.

Source: Forbes May 08, 2018 14:26 UTC