News Formal

Bitcoin falls to lowest since February even as stocks hit record

  • 📰 Moneyweb
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 77%

United States News News

United States United States Latest News,United States United States Headlines

Bitcoin fell as much as 8.1% to hit the lowest since February, changing hands at about $54 190 as of 12:21 p.m. Friday in Singapore.

Bitcoin sank for a fourth consecutive trading session, part of a wider crypto selloff that contrasts with recent record highs in global stocks.

Correlation frays Meanwhile MSCI’s gauge of global stocks is hovering near a record high and a short-term, 30-day correlation between Bitcoin and the index is plunging. The question is whether risk aversion in crypto is isolated or heralds a circumspect quarter for mainstream investments too after a strong first-half for shares.

Investors are awaiting US jobs data later Friday for the latest clues on the outlook for Fed policy. Soft recent economic reports have bolstered the case for the US central bank to loosen monetary settings in coming months.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Euro sinks, stocks to drop on EU vote outcome: Markets wrapBitcoin fell 0.2% to $69 571.46.
Source: Moneyweb - 🏆 5. / 77 Read more »