The Second Day Running Sees Bitcoin is Up While Equities Fall
For the second day straight, Bitcoin is up while equities fall. Is this the beginning of a decoupling from traditional markets? @SmartContracter picked up on this trend yesterday by saying: “was very surprised to see this today, but there is nothing i would like more than to see btc break its correlation with equities.” However, […]
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Bloomberg Intelligence senior commodity strategist Mike McGlone said bitcoin could still fall back toward and potentially below the $10,000 area, arguing that crypto remains trapped in a broader macro unwind tied to deflationary pressure, overstretched risk assets and what he described as excess across the digital-asset complex. Speaking in an interview with EllioTrades, McGlone reiterated a call he first revived when bitcoin was above $100,000: that the market could again “lop off a zero.” This time, he framed the thesis less as a pure crypto-cycle forecast and more as a macro view on....
FTX US announced on Thursday that the firm has launched an equities trading platform called FTX Stocks which will give U.S.-based customers the ability to purchase stocks and exchange-traded funds (ETFs). The launch is currently in a private beta phase for select U.S. customers and equities can be purchased with fiat-backed stablecoins.
FTX US Launches Beta Equities Trading Platform
FTX US customers phased in through the firm’s private beta waitlist can now leverage the platform to purchase stocks and ETFs. The company says the new feature offers hundreds of select....
Potential correlation between bitcoin and equities is in focus as the S&P 500 reached as far as 4.2% below its all-time highs.
Despite the recent rally in equities, the bond market has meaningfully reversed and resumed its sell-off while treasury yields rise with inflationary pressure.
The price of Bitcoin (BTC) has failed to break through the $40,000 barrier, indicating that confidence in the cryptocurrency market remains sluggish. BTC has been declining for more than a month. If it falls below $38K, it could fall all the way to $32K. While the crypto market is now bearish, another crash is improbable, at least until the FOMC meeting concludes. Traders’ enthusiasm in the cryptocurrency market continues to erode as a result of the market’s prolonged fall and geopolitical uncertainty. Veteran trader Peter Brandt anticipates a test of the Bitcoin (BTC) price....