Bitcoin Nosedives Below $38k As Tech Stocks Take A Beating, Pandemic Gains Di...
Bitcoin was down in the afternoon session on Wednesday, as bargain hunters and dip takers failed to maintain this morning’s momentum. The premier crypto continues to maintain price action similar to tech stocks. Bitcoin Price Falls Bitcoin sank below $38,000 as Wall Street opened, giving up half of the gains made on Feb. 1. Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it dipped below $38,000 as Wall Street opened, giving back half of the gains made on Feb. 1. Bitcoin’s price has risen above $39,000 after a sustained recovery. There was no proper....
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Bitcoin reaffirms its current correlation with equities as tech stocks in particular suffer as trading gets underway. Bitcoin (BTC) fell on the Wall Street open on Feb. 2 as another tech stock rout panicked traders. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitcoin: "Macro FUD is driving all" Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it dipped below $38,000 as Wall Street began, giving back half of the gains secured on Feb. 1.At the time of writing, the pair traded near $37,600 as tech stocks took a beating. These were led by PayPal, shares in....
The recent announcement by Pfizer of a potential Covid-19 vaccine sparked an immediate rally of global stocks worst hit by the pandemic response. The rally helped major indices including the New York Stock Exchange (NYSE) Composite Index and Europe’s Stoxx to go up by approximately 4%. Bitcoin’s Decoupling On the other hand, stocks that benefited from lockdown restrictions went down as the vaccine raises hopes for a return to normal life. Still, it appears the same vaccine hopes did not dampen interest in bitcoin, another major beneficiary of lockdown restrictions. In a....
Feb. 4 delivers more of the same for both tech stocks and crypto, with Bitcoin adding $1,000 on the Wall Street open. Bitcoin (BTC) kept investors guessing with tech stocks as Wall Street opened on Feb. 4, circling $38,000.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewStocks continue volatilityData from Cointelegraph Markets Pro and TradingView followed a ranging overnight period for BTC/USD, bulls hoping for clearer validation of recent gains.After 15% daily gains the day before, Amazon (AMZN) continued its uptrend on Feb. 4, jumping 10% at the open, while embattled Meta (FB)....
As the U.S. stock market enters earnings season, analysts explain how Bitcoin could perform after earnings and the presidential election. Tech-heavy stock market indices, including the Nasdaq Composite and the S&P 500, have begun to recover. Amazon posted high pandemic sales that led profits to climb threefold and reported a 37% spike in revenue. Facebook also surpassed Wall Street expectations, achieving $21.5 billion in revenue during the third quarter.Although the correlation between Bitcoin and U.S. stocks has declined in recent weeks, the probability that the rising risk-on market....
The crypto market faces a stormy horizon as a prominent analyst and a report send warning signals about the future of both digital assets and big tech stocks. In a recent strategy session, Nicholas Merten, the popular host of DataDash, cautioned that cryptocurrencies and FAANG stocks (Facebook, Amazon, Apple, Netflix and Google) could experience lackluster gains […]