Bitcoin Rises in Line With Stocks After Dip Below $9K
Bitcoin’s positive correlation with stocks continues Monday, with the cryptocurrency drawing bids alongside gains in global equities.
Bitcoin advanced on Monday, ending a 10-day-long price consolidation, as the U.S. dollar weakened against gold and fiat currencies.
Bitcoin is looking to leap key resistance alongside a strong rally in gold, but its role as an inflation hedge is still weak.
Bitcoin (BTC) has crossed into the bullish territory, but may remain vulnerable to another sell-off in stocks.
The number of active ether addresses just clocked a recent high, possibly thanks to its growing role in decentralized finance.
The eighth-largest cryptocurrency by market value jumped to $0.1021 on Saturday to hit its highest price level since June 2019. It has rallied by a staggering 170% in the second quarter, according to CoinDesk data.