BTC, ETH fall close to 5%, leave analysts scratching their heads

Macroeconomic trends should be creating the perfect storm for cryptos. But true to form, the asset class isn’t following the rules. 

Bitcoin and ether faltered Thursday after an early-morning rally, dipping around 4.8% and 4.7%, respectively. 

Bitcoin (BTC) came close to breaking into the $38,000 range Thursday before falling into the red, effectively ending Wednesday’s rally. BTC is now down a little over 2% over the week, but still up close to 25% in the past 30 days. 

Stocks also dipped Thursday but recovered to trade relatively flat at time of publication. The S&P 500 and Nasdaq Composite indexes each lost as much as 0.5% earlier in the trading session before paring… Read more on Blockworks

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