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Bitcoin’s correlation with stocks grows as risk appetite drops
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U.S. employment data.
Bitcoin followed suit, posting nearly the exact same moves. The world’s largest digital currency dropped as much as 3.4% during the session to trade around $54,960, which is roughly 20% off its recent record highs.
U.S. stocks also fell, with the S&P 500 Index losing 1.1% as of 1:10 p.m.
in New York. It’s not unusual to see Bitcoin and the stock market trade in tandem in recent weeks.
Read more on economictimes.indiatimes.comAbout this in other media
An audience with BlackRock’s Salim Ramji: ‘Investors love ETFs, not crypto or meme stocks’ fnlondon.com /2 years ago
Stocks making the biggest moves midday: Harley-Davidson, GameStop, SVB Financial, Coca-Cola and more cnbc.com /2 years ago
Bank of Russia to ban mutual funds from investing in Bitcoin cointelegraph.com /2 years ago
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