The stock market rally that started in mid-June started to reverse by mid-August. Monday, the S&P 500 fell 2.1% by market close.
“This is a fear of the Fed not backing off,” Soloway told David Lin, Anchor for Kitco News. “We got the minutes last week from the Federal Reserve meeting, that kind of was the end of the move. Right into those minutes are when we touched the 200-day moving average, which was the technical resistance level. And as soon as we heard from the Fed, it didn’t seem like they were as dovish as the market wanted.”“The stock market has made its highs in 2021.
Bitcoin is down because Bitcoin is old news and old technology. When people realize that Bc, the largest ship in the sea, is not the sea then other coins will begin to take their rightful place. Bitcoin will always be around, but it has served it's purpose. It opened the way.