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