S&P 500

Market Wrap: As Stocks Rally, Bitcoin Trades Above $9.3K for the First Time in 10 Days

A rising tide in equities is lifting all boats – including in the bitcoin market.  Bitcoin (BTC) is trading around $9,295 as of 20:00 UTC (4 p.m. ET), gaining 2.7% over the previous 24 hours. Bitcoin’s 24-hour range: $8,938 – $9,345 BTC above 10-day and 50-day moving average, bullish signal for market technicians. Bitcoin trading …

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Bitcoin’s Price Correlation With S&P 500 Hits Record Highs

Ever since its inception, bitcoin has been dubbed “digital gold,” given it is durable, fungible, divisible and scarce like the precious metal.  However, while gold has a strong track record of rallying in times of stress in the global equity markets, bitcoin is yet to build a similar reputation as a safe-haven asset. In fact, …

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Market Wrap: Bitcoin Briefly Breaks Below $9K, but Markets Remain Comatose

Bitcoin broke below $9,000 Thursday afternoon as the leading cryptocurrency has continued to trade in a tight range just above $9,000 for several weeks. Despite the brief 3% afternoon drop, however, the cryptocurrency markets continue to stay eerily calm as volatility drops and traders continue to expect a big move. Bitcoin was changing hands at …

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Market Wrap: As Traditional Markets Rally, Bitcoin Gets Boring

Bitcoin broke above $9,250 for the first time since Friday as the leading cryptocurrency continues to trade in a tight range just above $9,000 for several weeks. But cryptocurrency markets have stayed quiet as traders expect a big move. Bitcoin was trading hands around $9,250 as of 20:00 UTC (4 p.m. ET).  Ether, the second-largest …

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Market Wrap: Bitcoin Traders Expect Big Move as Volatility Plummets

Bitcoin opened the week still stuck in a price range just above $9,000 Monday, moving less than 0.2% from Friday’s close as of 20:00 UTC (4 p.m. ET), according to Bitstamp. At 00:00 UTC on Monday (8:00 p.m. Sunday ET), bitcoin (BTC) was changing hands around $9,115 on spot exchanges such as Bitstamp. Despite a …

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Market Wrap: A Sea of Red Across Markets as Bitcoin Drops to $9.2K

Bitcoin started the week with a bullish run, but it has now given back all of those gains. Bitcoin (BTC) was trading around $9,296 as of 20:00 UTC (4 p.m. ET), slipping 3.5% over the previous 24 hours.  At 00:00 UTC on Wednesday (8:00 p.m. Tuesday ET), bitcoin was changing hands around $9,624 on spot …

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Market Wrap: Bitcoin Hits $9.6K as Bullish Crypto Sentiment Returns

Bitcoin’s price is rallying and traders also increasingly see investment opportunities on the Ethereum network.  Bitcoin (BTC) was trading around $9,563 as of 20:00 UTC (4 p.m. ET), gaining 2.5% over the previous 24 hours.  At 00:00 UTC on Monday (8:00 p.m. Sunday ET), bitcoin was changing hands around $9,298 on spot exchanges such as …

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Market Wrap: Bitcoin Spot Volumes Are Weak While Options and DeFi Strengthen

Bitcoin spot volume may have been low this week, but the real action in crypto has been in the options market and decentralized finance.  Bitcoin (BTC) was trading around $9,274 as of 20:00 UTC (4 p.m. ET), slipping 1% over the previous 24 hours.  At 00:00 UTC on Friday (8:00 p.m. Thursday ET), bitcoin was …

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Market Wrap: Bitcoin Quiet at $9.3K While DeFi Gets Loud

It’s a lethargic Thursday across most markets, including bitcoin. Yet, on a longer-term view, the big growth story remains the Ethereum network’s DeFi movement, which continues to help drive ether’s performance in 2020.  Bitcoin (BTC) was trading around $9,395 as of 20:00 UTC (4 p.m. ET), gaining 0.97% over the previous 24 hours.  At 00:00 …

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Market Wrap: Bitcoin Flat at $9.4K but Investors Are Holding On

A languid Wednesday in traditional markets affected bitcoin as well although it’s been a steady six weeks where the world’s first cryptocurrency outperformed most traditional assets.  Bitcoin (BTC) was trading around $9,265 as of 20:00 UTC (4 p.m. ET), slipping 1.3% over the previous 24 hours.  At 00:00 UTC on Wednesday (8:00 p.m. Tuesday ET), …

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