Bitcoin Dips Below $64K as U.S. Equity Selloff Stalls Crypto Rebound
A stock market correction is the biggest risk for the crypto market, but a renewed downturn would be a buying opportunity, an LMAX Group strategist said.
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A stock market correction is the biggest risk for the crypto market, but a renewed downturn would be a buying opportunity, an LMAX Group strategist said.
The Mt. Gox distribution will not end the bullish trend, CryptoQuant CEO noted.
A continuing series of record highs for the S&P 500 and Nasdaq over the past weeks has done nothing to prop up sliding crypto prices, but Thursday saw both asset classes tumbling together.
The market will have to absorb between $4-$6 billion worth of bitcoin selling pressure throughout the summer months, weighing on prices, K33 Research said.
Bitcoin’s price briefly declined to $55,000 following the blockchain transactions.
The latest price moves in bitcoin (BTC) and crypto markets in context for July 1, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
BTC plummeted more than 2% in an hour to $65,200 during the U.S. trading session from around the $67,000 area. The leading crypto was down 7.5% over the past seven days
The latest price moves in bitcoin (BTC) and crypto markets in context for June 14, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Tomorrow’s Fed “dot plot” of interest rate projection and forward guidance by Chairman Powell will be key for what’s next for the digital asset market, K33 Research said.
Upcoming consumer price index and labor market data releases in the next few days could be key for what’s next for bitcoin’s price.