Bitcoin declines following $1 trillion exodus from stock market

The US stock market lost over $1 trillion of market value following weak performance across Magnificent 7. Bitcoin showed a positive correlation to the stock market, trading at a daily loss alongside several other cryptocurrencies. New stablecoin inflows have yet to be allocated, says CryptoQuantanalyst. Bitcoin plunged more than 2% on Tuesday after the US stock market posted significant losses. The decline saw the general crypto market recording a 3.

It is possible that institutional investors are buying digital assets via TWAP orders or with algorithms to reduce the impact on the short-term price, he added. Meanwhile, Bitcoin's recent weak price action has seen Meta stock and Gold rising to challenge its outperformance as the second-best asset on risk-adjusted returns. Bitcoin’s outperformance on risk adjusted returns is being challenged. Over the last twelve months Meta and even Gold are catching up to it.

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Bitcoin traders should watch these metrics after the market dump on Black MondayBitcoin (BTC) is up nearly 4% on Tuesday after recovering quickly from Black Monday's crash.
Источник: FXStreetNews - 🏆 14. / 72 Прочитайте больше »