Tag: Stocks

Bad Day for Stocks Sends Bitcoin Price Below Key $9.3K Support

TradingBTC

Today Bitcoin (BTC) price abruptly dropped 2.93% to $9,160 before traders stepped in to push the price back to the $9,200 level. Crypto market weekly price chart. Source: Coin360 The mild correction occurred as the Dow pulled back 370 points and the S&P 500 and Nasdaq also saw small losses. Gold also pulled back 0.92% but still is only $17 away from its recent high at $1,818. BitMEX XBT-USD Liquidations. Source: Skew The drop below $9,200 resulted in $15 million in BitMEX liquidations and at the time of writing the…

China Stocks Boom Bullish for Bitcoin? 5 Things to Watch This Week

TradingBTC

Bitcoin (BTC) begins a new week testing increasingly weak $9,000 support, but what factors could make or break price performance? Cointelegraph Markets takes a look at the main things traders should focus on in Bitcoin for the coming five days.  Stocks recover led by China  Stock market futures showed a mixed but overall stronger mood going into Monday. Data, notably last week’s better-than-expected United States employment figures, helped to buoy the mood. Stocks continue to rise, with Chinese stocks booming, despite the rapidly increasing spread of coronavirus. China’s FTSE A50…

The Number of Stocks Reaching All-Time Highs is Growing; Why Bitcoin Won’t Follow

TradingBTC

Bitcoin and the stock market have formed a close correlation in recent weeks, but this is now showing some signs of breaking as BTC trades sideways while most equities begin picking up some momentum. The stock market has been seeing an intense recovery, and its momentum appears to be picking up once again as many states and cities that were previously on lockdown begin opening up. One indicator of the market’s newfound momentum can be seen while looking towards the number of publicly traded companies that are seeing their stock…

All Inflation? In Bitcoin Terms, Stocks Never Recovered From Covid-19

TradingBTC

Bitcoin (BTC), in fact, crushed stock markets during the Covid-19 recovery with equity “growth” simply down to inflation, fresh data argues. Charts showing stocks denominated in gold and Bitcoin in 2020 show that far from having their best quarter in ten years, markets had no “recovery” at all. “It’s all inflation” The perspective is starkly different to the message coming from governments and mainstream media about the health of the economy. Central bank intervention, they claim, helped boost stocks to clinch their strongest quarterly growth since 2011 in Q2. But…

Bitcoin Risks 20% Drop as Outlook for ‘Stimulus Junkie’ Stocks Sours

TradingBTC

The Dow Jones plummeted by 2.84% on June 26, recording a 9.27% fall since the month’s peak. As risk-on assets face the fear of a correction, the vulnerability of a near-term Bitcoin (BTC) price pullback may increase. While many fundamental factors are causing a stock market downtrend, analysts are pointing at the decline in liquidity as the primary catalyst. As the Federal Reserve’s balance sheet started to contract, U.S. stocks fell in tandem. The correlation between Bitcoin and U.S. equities in recent months raises the probability of a BTC price…

A Chilling Bitcoin “Death Cross” Reappears With a Gloomy Stocks Correction

TradingBTC

Bitcoin has formed a “Death Cross” pattern on its daily chart as price slips ahead of the New York opening bell. The cryptocurrency’s 50-day simple moving average today closed above its 20-day exponential moving average. The pattern surfaced as the U.S. futures signaled a negative session ahead. Bitcoin and the S&P 500 have shown a positive correlation. Bitcoin’s daily moving averages (MA) have formed a “Death Cross” – a market signal interpreted by some traders as hinting that the cryptocurrency will fall further. The 20-50 Factor The ominous indicator confirms…

Bitcoin Risks Plunging to $8K as Gold, Stocks Dive on Dollar Rebound

TradingBTC

Bitcoin, gold, and global stocks fell in sync after a jump in virus cases moved investors to the safety of cash. The sentiment helped the U.S. dollar index recover its losses by another 0.11 percent, bringing its total upside rebound to 1.43 percent. Sebastien Galy, a strategist at Nordea Asset Management, noted the recent pullbacks would do little in harming the prevailing global market rally. A spike in virus cases in China and the U.S. led investors to offload part of their profitable, risk-on positions for cash this Monday. The…

Bitcoin Still Outperforms Stocks After Halving

TradingBTC

Data published today from Cointelegraph Markets and on-chain data provider lookintobitcoin found that the Bitcoin (BTC) price remains well positioned as on-chain analysis and BTC’s reaction to global events continue to play to the crypto asset’s strengths. Bitcoin’s block reward halving occurred nearly a month ago and many analysts believe the event failed to produce the strong pre and post halving rally investors expected. Despite this, there is ongoing evidence that retail and institutional investors remain focused on accumulating Bitcoin and other cryptocurrencies.  Macro Assets Current Year Returns (%). Source:…

U.S. Stocks Dull Bitcoin Appeal on Optimistic Jobs Report

TradingBTC

Spot bitcoin fell was down 1.32 percent at $9,659 per token ahead of the New York opening bell Friday. Bitcoin futures slid 1.82 percent to $9,715. The move downhill appeared as the U.S. futures headed higher following jobs report at 0830 ET. Bitcoin prices eased ahead of hugely awaited U.S. jobs report on Friday as investors pinned their hopes on economic recovery. The spot bitcoin rate fell 1.32 percent to $9,659 per token, while CME futures linked to the Bitcoin market were down 1.89 percent at $9,715. In contrast, the…

Bitcoin, Stocks Fall as Dollar Rebounds ahead of U.S. Trade Data

TradingBTC

Spot bitcoin fell 1.45 percent to $9,501 as of 0900 UTC as the U.S. dollar rebounded from its seven-day plunge. The cryptocurrency’s downside move surfaced ahead of a fresh U.S. trade and unemployment data release at 0830 ET on Thursday. The U.S. stock market, which remains positively correlated to bitcoin, also dived as investors booked short-term profits. Bitcoin continued to tail the moves in the global stock market this Thursday. The benchmark cryptocurrency fell by 1.45 percent to $9,501 minutes after 0900 UTC. The downside swing mainly came as a…