Cryptocurrency
Bitcoin Deviates Further Away from Dow, S&P 500 as Price Hits $13K
Bitcoin Deviates Further Away from Dow, S&P 500 as Price Hits $13K: As reported on NewsBTC, “Bitcoin has wholly sidelined its widely-covered correlation with the US stock market. On Thursday, the benchmark cryptocurrency sustained its weekly gains as its price surged by more than 1 percent. The move briefly pushed the price above $13,000 before […]
Bitcoin Deviates Further Away from Dow, S&P 500 as Price Hits $13K:
As reported on NewsBTC, “Bitcoin has wholly sidelined its widely-covered correlation with the US stock market.
On Thursday, the benchmark cryptocurrency sustained its weekly gains as its price surged by more than 1 percent. The move briefly pushed the price above $13,000 before a modest pullback turned it back below the level. But overall, the bias appeared extremely bullish for Bitcoin.
That is because the price retested the $13K-level twice in over the previous 24 hours. At the same time, Bitcoin showed extreme resilience against sell-off attempts near $12,550, confirming that bulls want to hold the price floor in anticipation of a medium-term upside run.