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MYR
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MYR
MYR
MYR
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OMR
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PAB
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PAB
PAB
PAB
PAB
PAB
PAB
PAB
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PEN
PEN
PEN
PAB
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PEN
PEN
PEN
PEN
PEN
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PHP
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PHP
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RUB
RUB
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RWF
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RWF
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SAR
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SBD
SBD
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SBD
SBD
SBD
SBD
SBD
SBD
SBD
SBD
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SBD
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SCR
SCR
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SCR
SCR
SCR
SCR
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SDG
SDG
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SDG
SDG
SDG
SDG
SDG
SDG
SDG
SDG
SDG
SDG
SDG
SEK
SEK
SEK
SEK
SEK
SEK
SEK
SEK
SEK
SEK
SEK
SEK
SGD
SGD
SEK
SGD
SGD
SGD
SGD
SGD
SGD
SGD
SGD
SGD
SGD
SGD
SHP
SHP
SHP
SHP
SHP
SHP
SHP
SHP
SHP
SHP
SHP
SHP
SLL
SLL
SHP
SLL
SLL
SLL
SLL
SLL
SLL
SLL
SLL
SLL
SLL
SLL
SRD
SRD
SRD
SRD
SRD
SRD
SRD
SRD
SRD
SRD
SRD
SRD
SSP
SSP
SRD
SSP
SSP
SSP
SSP
SSP
SSP
SSP
SSP
SSP
SSP
SSP
STD
STD
STD
STD
STD
STD
STD
STD
STD
STD
STD
STD
STN
STN
STD
STN
STN
STN
STN
STN
STN
STN
STN
STN
STN
STN
SVC
SVC
SVC
SVC
SVC
SVC
SVC
SVC
SVC
SVC
SVC
SVC
SYP
SYP
SVC
SYP
SYP
SYP
SYP
SYP
SYP
SYP
SYP
SYP
SYP
SYP
SZL
SZL
SZL
SZL
SZL
SZL
SZL
SZL
SZL
SZL
SZL
SZL
THB
THB
SZL
THB
THB
THB
THB
THB
THB
THB
THB
THB
THB
THB
TJS
TJS
TJS
TJS
TJS
TJS
TJS
TJS
TJS
TJS
TJS
TJS
TMT
TMT
TJS
TMT
TMT
TMT
TMT
TMT
TMT
TMT
TMT
TMT
TMT
TMT
TND
TND
TND
TND
TND
TND
TND
TND
TND
TND
TND
TND
TOP
TOP
TND
TOP
TOP
TOP
TOP
TOP
TOP
TOP
TOP
TOP
TOP
TOP
TOP
TRY
TRY
TRY
TRY
TRY
TRY
TRY
TRY
TRY
TRY
TRY
TRY
TRY
TTD
TTD
TRY
TTD
TTD
TTD
TTD
TTD
TTD
TTD
TTD
TTD
TTD
TTD
TTD
TWD
TWD
TWD
TWD
TWD
TWD
TWD
TWD
TWD
TWD
TWD
TWD
TWD
TZS
TZS
TWD
TZS
TZS
TZS
TZS
TZS
TZS
TZS
TZS
TZS
TZS
TZS
TZS
UAH
UAH
UAH
UAH
UAH
UAH
UAH
UAH
UAH
UAH
UAH
UAH
UAH
UGX
UGX
UAH
UGX
UGX
UGX
UGX
UGX
UGX
UGX
UGX
UGX
UGX
UGX
UGX
UYU
UYU
UYU
UYU
UYU
UYU
UYU
UYU
UYU
UYU
UYU
UYU
UYU
UZS
UZS
UYU
UZS
UZS
UZS
UZS
UZS
UZS
UZS
UZS
UZS
UZS
UZS
UZS
VES
VES
VES
VES
VES
VES
VES
VES
VES
VES
VES
VES
VES
VND
VND
VES
VND
VND
VND
VND
VND
VND
VND
VND
VND
VND
VND
VND
VUV
VUV
VUV
VUV
VUV
VUV
VUV
VUV
VUV
VUV
VUV
VUV
VUV
WST
WST
VUV
WST
WST
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NewsBTC
2022-06-28 17:20:34
Why Crypto Is “Likely To Dump” As It Lags The S&P 500, Expert Says
Bitcoin remains stuck at its current levels. The number one cryptocurrency has been unable to push upwards and could be in danger of revisiting its yearly lows. Related Reading | Outflows Rock Bitcoin As Institutional Investors Pull The Plug, More Downside Coming? At the time of writing, Bitcoin trades at $20,700 with sideways movement in the last 24 hours and the past week. According to crypto analyst Justin Bennett, Bitcoin is hinting at further losses. The cryptocurrency stayed rangebound even as the traditional market rallied. Bitcoin has displayed a high correlation with traditional equities. In particular, the price of Bitcoin seems to be moving in tandem with the Nasdaq 100 and the S&P 500 Index. However, this dynamic has been changing in short timeframes making BTC a lagger as equities trend upwards. Bennett believes this is an indicator of a fakeout, a false upwards movement before a re-test of previous support. At the moment, the analyst claims, there is nothing more important for BTC’s price than equities. Via Twitter, Bennett wrote the following and shared the chart below: Everything for #crypto boils down to this…Does the S&P 500 fail to hold above 3,880? If so, and we get a 1h close below, this latest rally becomes a fakeout, and we likely get the next leg lower for stocks and crypto alike. Everything else is just noise. You could literally trade BTC using nothing but the S&P chart above. A...
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