Market Wrap: With Low Volatility, Traders Seem to Like $9,000 Bitcoin
Bitcoin traders love hitting buy on their terminals when the price is around $9,000.
While bitcoin is eyeing an August gain for the first time in three years, the cryptocurrency is still lagging U.S. stocks over the month.
The S&P 500 has recovered to hit new all-time highs but how real is it, and how are leading finance minds interpreting the recovery?
Bitcoin nearly triples its price in 2020 and ends the year close to $29,000, but ether gained 450%.
Analysts expect bitcoin’s positive correlation to traditional markets to continue and strengthen.
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.