Bitcoin drops below $ 78,000 while Wall Street collapses

Bitcoin (BTC) dropped to $ 78,000 on Monday and lost 4 %during the day while the stock markets collapsed. According to recent crypt data, a few BTC/USD influenced $ 79,170 per Bitstamp and continued the descending trend before a weekly fence. What follows -up for bitcoins?

Bitcoin drops below $ 78,000 while Wall Street collapses

The decline in bitcoins is part of a wider context of downloading risky assets, where the crypto market has just lost hundreds of millions of dollars in a few hours. Wall Street was opened in red on Monday, with a 2 % drop for S&P 500 and 3.5 % for the NASDAQ Composite index. In particular, NASDAQ 100 officially entered the correction area after a loss of more than 10 % of its recent heights. In addition, several macroeconomic trends emphasize the nervousness of investors:

• The price of gold increased by 50 %in 13 months, which is a sign of the inflow of shelters.

• The oil dropped by 20 % in 2 months, reflecting concerns about global demand.

• The yield of US bonds after 10 years fell by 60 basic points in 2 months.

• The capitalization of the cryptom market lost $ 1,000 billion in the same period.

• The market is now expecting three drop in rates in 2025, reflecting growing concerns about the US economy.

Bitcoin investors seem to face these signals on the immediate recession in the United States.

A week full of uncertainty

Crypto investors are in full uncertainty, while bitcoins are vaccinated below $ 78,000. The current volatility of markets, associated with falling at distracting events and economic signals, supports concerns about a deeper collapse. This week promises to be decisive.

Because several indicators must be carefully monitored, such as Bitcoin Whale movements, market liquidity or Fed’s decision at interest rates. While some hope that technical reflection, others are afraid of new waves by surrender.

While eye and bitcoins are suffering, the question remains open: is it a simple correction or can bitcoins still avoid complete collapse?

Eddy S.

The world is evolving and adaptation is the best weapon that survives in this undulating universe. I am interested in everything about blockchain and its derivatives. To share my experience and promote an area that fascinates me, nothing better than writing informative and relaxed articles simultaneously.

Renunciation

The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.