“As of recent weeks, bitcoin has surfaced more like a risk asset – correlations against U.S. equities spike above 0.6 the past few days alongside the sell-off in technology stocks last Friday,” Lennard Neo, head of research at Stack Funds, a crypto investment firm, wrote in a report on Thursday. “However, crypto assets did not see the same rebound that U.S. equities had earlier … [Read more...] about Bitcoin Dips as China’s Evergrande Defaults; Altcoin Outperformance Could Fade
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Market Wrap: Cryptocurrencies Fade on News That Powell Will Be Renominated as Fed Chairman
Bitcoin traded lower on Monday after buyers failed to sustain a weekend rally toward $60,000. The cryptocurrency was trading at around $56,000 at press time and is down about 5% over the past 24 hours.Equities and cryptocurrencies initially ticked higher earlier during New York trading hours after U.S. President Joe Biden said he will renominate Federal Reserve Chairman Jerome … [Read more...] about Market Wrap: Cryptocurrencies Fade on News That Powell Will Be Renominated as Fed Chairman
Bullish sentiment begins to fade after Ethereum all-time high at $4,200
The last couple of weeks have been nothing short of astonishing for Ether (ETH), as the cryptocurrency hiked over 80% to reach a $4,200 all-time high. Even after a 7% correction, the gains accumulated in 2021 surpass 300%, and Ether currently holds a market capitalization that exceeds $450 billion.In the face of such a mind-blowing performance, neither the futures contracts … [Read more...] about Bullish sentiment begins to fade after Ethereum all-time high at $4,200