Bitcoin clung to modest gains at the July 8 Wall Street open as United States equities hit new record highs.Crypto markets then declined again, continuing to diverge from risk assets more widely as the S&P 500 and Nasdaq Composite Index achieved new all-time highs on the day.
“FED Chair Powell’s testimony Tuesday and comments Wednesday, or some crypto related legislation could provide a catalyst for speculators,” Keith Alan, co-founder of trading resource Material Indicators, wrote in part of his latest “The market could test your conviction with a wick to $48k,” he continued alongside a chart that featured one of Material Indicators’ proprietary trading tools showing key support lines.
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