When Stocks Go Down, So Does Bitcoin
Bearish sentiment is affecting all markets today as investors appear to be de-risking, selling liquid assets for the safety of instruments like cash, said Neil Van Huis, director of institutional trading at cryptocurrency liquidity provider Blockfills. “Looks a little risk-offish on all risk assets across the board,”
Indeed, major stock indices are all in the red Wednesday. In Asia, the Nikkei 225 of publicly traded companies ended the day flat, down 0.07%. Concern about increased coronavirus infection rates in Japan led to some selling pressure. In Europe, the FTSE 100 index dropped 3.1% Wednesday. The prospect of U.S. tariffs on U.K., French, Spanish and German goods dragged the index lower.
The U.S. S&P 500 stock index lost 2.6%. The round of stock selling has been attributed to concerns of the coronavirus pandemic’s resurgence in some states.
June hasn’t exactly been a winner for bitcoin so far, but it’s not like stocks were hot either.
Indeed, major stock indices are all in the red Wednesday. In Asia, the Nikkei 225 of publicly traded companies ended the day flat, down 0.07%. Concern about increased coronavirus infection rates in Japan led to some selling pressure. In Europe, the FTSE 100 index dropped 3.1% Wednesday. The prospect of U.S. tariffs on U.K., French, Spanish and German goods dragged the index lower.
The U.S. S&P 500 stock index lost 2.6%. The round of stock selling has been attributed to concerns of the coronavirus pandemic’s resurgence in some states.
June hasn’t exactly been a winner for bitcoin so far, but it’s not like stocks were hot either.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.