Bitcoin falls to 2-month low as divergence to equities deepens
Santiment says that “the gap between traditional equities and crypto has become increasingly difficult for traders to ignore.”
Bitcoin fell to its lowest level in almost two months on Tuesday as cryptocurrencies continue to diverge from traditional equity markets.
Bitcoin (BTC) fell to a low of $70,023 on Coinbase early on Tuesday, its lowest level since April 7, marking a daily decline of more than 4% and a weekly loss of 8%, according to TradingView. Bitcoin is down 44% from its October peak of $126,000.
US stock markets such as the S&P 500 have meanwhile hit a record high of just over 7,600 points on Monday, while the tech-heavy Nasdaq peaked at over 27,000 points.
