Market Wrap: Bitcoin Briefly Breaks Below $9K, but Markets Remain Comatose
Bitcoin briefly broke below $9,000 on Thursday, but the markets remain quiet.
According to the crypto exchange’s report, June was the most uneventful month for Bitcoin (BTC) trading since February and was marked by a reversal in correlation trends with gold and the S&P 500.
Bitcoin traders love hitting buy on their terminals when the price is around $9,000.
Analysts expect bitcoin’s positive correlation to traditional markets to continue and strengthen.
Equities continue to beat bitcoin’s performance, but everything is making gains Monday.
Bitcoin's correlation with the S&P 500 is somewhat erratic, but the relationship has gotten stronger. That may not be bad news.