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Bitcoin Price At Risk Of Further Decline As The Currency Continues To Track The U.S. Stock Market
Summary: These next few days will be crucial for Bitcoin to ease downward momentum to prevent further price lows as the digital currency continues to fall following the U.S. stock market. At the time of writing Bitcoin is trading hands at $10,115 and is down 0.66%. The currency fell as low as $9,928 earlier on Tuesday, September ...
These next few days will be crucial for Bitcoin to ease downward momentum to prevent further price lows as the digital currency continues to fall following the U.S. stock market.
At the time of writing Bitcoin is trading hands at $10,115 and is down 0.66%. The currency fell as low as $9,928 earlier on Tuesday, September 8 before rebounding.
Bitcoin's global strength index currently sits at 21, an indicator that the asset is oversold. Glassnode's recent on-chain report argued that downward performance of the S&P 500 is at risk of pulling Bitcoin down lower as investors turn away from the stock market and turn to crypto holdings for liquidity.
By Emily Mason
Tags: Bitcoin,BTC,Glassnode Report,U.S. stock market
Link: Bitcoin Price At Risk Of Further Decline As The Currency Continues To Track The U.S. Stock Market [Copy]
