S&P 500

Report: Bitcoin Untied from the Economic Cycle, ‘Largely Uncorrelated to Other Asset Classes’

On Tuesday, Coinshares Investment strategist James Butterfill published a report which shows that bitcoin is a unique asset, but is “largely uncorrelated to other asset classes” like commodities and traditional stocks. Coinshares Investment strategist James Butterfill published a new report on August 18 that shows bitcoin (BTC) is establishing itself as an investment store of …

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Big Travel Firm CWT Pays $4.5 Million Bitcoin Ransom to Hackers

CWT, one of the biggest travel companies in the U.S., this week paid $4.5 million in bitcoin to hackers who infiltrated the firm’s computer system, stealing sensitive corporate data. It is unclear whether customer information was also compromised. Reuters reported that the bitcoin wallet owned by the cyber thieves received 414 BTC on July 28 …

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Despite Stock Market Disaster Predictions, Bitcoin Markets Permeate Bullish Signals

A number of Wall Street veterans like Bear Traps Report author, Larry McDonald, think that markets might see some “disastrous and unimaginable” impacts in the near future. Another seasoned analyst, Larry Williams, believes the S&P 500 will shudder after July 28. Despite the pending doom edging toward traditional stock and equities markets, bullish crypto researchers …

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Bitcoin Reaches Record High Correlation to S&P 500

Bitcoin’s one-year correlation to the Standard & Poor’s 500 index hit record highs as the leading cryptocurrency continues to trade in lockstep with traditional financial markets. The realized correlation, which measures the relationship between two assets, reached 0.367 on Thursday, up from -0.06 on January 1, according to data from Coin Metrics. Bitcoin’s correlation to …

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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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