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Crypto Outperforms Stocks for a Change as Correlation Breaks

  • Bitcoin has been trading in lockstep with riskier assets
  • Ether had slumped a much as 20% since software upgrade
Updated on

Cryptocurrencies outperformed US equities for a change, with Bitcoin and Ether gaining for the first time in five days.

Bitcoin, the largest virtual currency by market value, rose about 2% to $19,2912 as of 4:26 p.m. in New York. Earlier, it slid as much as 4% toward a three-month low. Ether rose about 1.5%. It had dropped as much as 20% since a much-touted network upgrade last week.