Market Wrap: BTC Settles at $20K as Voyager Files for Bankruptcy

Bitcoin leveled off to around $20,000 in Wednesday trading, down 1% from its high of $20,720 the previous day. The oldest cryptocurrency has changed hands largely in the $18,000 to $21,000 range for most of the past month as investors gauge the impact of rising inflation and macroeconomic uncertainty.

The majority of alternative currencies were in the green on Wednesday with Avalanche's AVAX leading the charts, up 5.5% in the last 24 hours. Ether , the second-largest cryptocurrency by market capitalization after bitcoin, was up 0.7%.For much of its short history, bitcoin has been uncorrelated to traditional markets, which served as a desirable quality for recession-conscious investors. However, according to data from Coin Metrics, bitcoin’s correlation to U.S.

“The correlation hit a new all-time high in Q2 2022 with BTC and U.S. equities moving almost in lockstep,” Coin Metrics wrote in a newsletter. “At the same time, BTC moved increasingly against risk indices like theThe release of the June consumer price index next week may show whether the recent hawkish monetary policies of the U.S. Federal Reserve have been effective.

The correlation between bitcoin and the S&P 500 reached an all-time high in the second quarter of 2022.

JimmyHe32 BabyDogeCoin

JimmyHe32 I see so many times this news in here. Btw why the market not dump yet?

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