Cryptocurrencies
Bitcoin Falls When the US Market Opens, Pointing to Cash Raising
- Coin’s decline over past month comes when US markets are open
- Stocks drive the cab, Bitcoin is unwitting passenger: Bespoke
This article is for subscribers only.
Crypto, stocks, bonds. Just about everything’s been having a tough time of late. But maybe Bitcoin’s poor performance can be blamed on the equities market.
Bitcoin, which trades 24/7, has largely tended to move higher on weekends, and the coin hasn’t been posting any abnormal moves between 9:30 a.m. and 4 p.m. on Saturdays and Sundays, which are the stock market’s US operating hours during the week. But Monday through Friday, its intraday path looks much different, according to Bespoke Investment Group. Bitcoin was marginally lower at 9:40 a.m. in New York at about $29,180 on Tuesday.