• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback

Analysts Think the Stock Market Has Peaked; Why This Could Be Brutal for Bitcoin

Cole Petersen by Cole Petersen
3 years ago
in Bitcoin
Reading Time: 2 mins read
Advertisement

The stock market has been caught within an intense uptrend over the past couple of days while Bitcoin consolidates within the upper-$9,000 region.

The ongoing equities rally has come about due to renewed hopes of the economy seeing a “V-shaped” recovery due to most countries across the globe easing their pandemic-related lockdowns.

Recent employment data within the US also gave the markets a significant boost, although the accuracy of this data has been disputed.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.
No Deposit 40 FREE SPINS at Wild.io on SIGN UP. Wheel of fortune, daily bonuses, 10 BTC in prizes monthly! Start Playing Now!

Analysts don’t believe that the stock market will be able to see too much further momentum, as one analyst is noting that equities are showing signs of peaking.

If it does reverse its newfound uptrend and declines in the near-term, one trader believes that this could have grave implications for where Bitcoin trends next.

US Stock Market Shows Signs of Peaking as Bitcoin Consolidates 

Bitcoin and the equities market formed an incredibly strong correlation throughout late-February and March, with the traditional market’s plunge in mid-March sending the benchmark cryptocurrency spiraling down to lows of $3,800.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Bitcoin and traditional assets also recovered in tandem, although BTC’s rebound allowed it to post gains that were a multiple of those seen by the benchmark indices.

This correlation has waned in the time since, but the market’s next major trend should provide insight into whether or not the correlation has been permanently broken.

One analyst recently explained that he does believe that equities are close to reaching their peak, with the decline from here potentially proving to be brutal for bulls.

“I think the stock market is reaching a top here soon. Do we close that gap? Maybe… What I’m most interested in is what happens to BTC if stocks were to make a top and see a large correction. Pressure is on,” he noted while pointing to the chart of the Dow Jones Industrial Average seen below.

Bitcoin Stock Market
Image Courtesy of Bitcoin Jack

After seeing a massive upswing yesterday, the Dow Jones and S&P 500 are both trading down just under 1% today.

BTC Could Be Gravely Impacted by Next Decline

Bitcoin has yet to confirm its status as a non-correlated asset, as its recent uptrend has come about in tandem with that of most other major markets.

The same analyst who noted that he is anticipating equities to see a sharp decline also believes that Bitcoin could see another bout of capitulation if his bearish outlook plays out.

“It’s been my theory since pre-capitulation that BTC would dip with the stock market, as the order flow suggested a huge amount of bulls trapped before the liq crash and then decouple, but BTC still hasn’t proven itself to be risk-off,” he explained.

How Bitcoin reacts to the stock market’s volatility in the weeks ahead could provide significant insight into whether or not it is truly a risk-off asset.

Featured image from Shutterstock.
Tags: btcusdBTCUSDTdjiSPYxbtusd
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

U.S. Government Releases Roadmap To Mitigate Crypto Risk For Investors

U.S. Government Releases Roadmap To Mitigate Crypto Risk For Investors

49 mins ago
Bitcoin U.S. institutional investors

U.S. Institutions Are Driving Bitcoin Prices, Matrixport Research

15 hours ago
Bitcoin

Bitcoin Exchange Outflows Reach Highest Value Since FTX Crash, Bullish?

20 hours ago
Bitcoin Investors Turn Greedy For First Time Since March 2022

Bitcoin Investors Turn Greedy For First Time Since March 2022

22 hours ago
Bitcoin Supply In Loss

Bitcoin Supply In Loss Hits A 9-Month Low

1 day ago
Bitcoin Retracement

Bitcoin Hash Rate Registers New Highs, A Selloff Imminent?

1 day ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
Metaspins

Metaspins

Review · Visit
Coinplay

Coinplay

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

MATIC Gains Over 20% As Polygon Network Records Biggest Whale Transaction Of 2023

January 28, 2023

Connecting the dots on $PAW. Is Ryoshi back?

January 28, 2023

Cardano’s (ADA) first native stablecoin will launch next week, Binance (BNB) Moved $346M for the Defunct Exchange Bitzlato, Snowfall Protocol (SNW) brings in massive 500% profits to investors

January 28, 2023

Cardano (ADA) Leads Crypto Dip as Market Sheds $27B Overnight, DMM Bitcoin starts handling Polygon (MATIC), Less than 7 days remain to Snowfall Protocol’s (SNW) launch

January 28, 2023

Cardano (ADA) and Solana (SOL) Holders See Potential in Snowfall Protocol (SNW)

January 28, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.