Yesterday, all US equity indexes reached record highs.
Welcome to the Weekender: Your weekly round-up of all the news stories shaping the crypto landscape, as voted by our readers' clicks. This week's top click was the news the JPMorgan has given a go-ahead to its advisors to offer clients crypto fund services.
Last week started painfully, with most indexes falling because of covid variant spreads and fears.
On the day in which we witnessed the opening ceremony of the Olympics, which only comes around every 4 (well.... 5 years), Bitcoin rallied for a 3rd consecutive day, holding $31,000 and $30,000 as support and targeting $36,000. Bitcoin's 24-hour high was $32,915 and 24-hour low, $31,708.
Bitcoin rallied for a second day in a row as the critical $30,000 level held, fueled by a rise in U.S. stocks, just as the Dow Jones rose 286 points (0.83%), and the Nasdaq a composite 0.9%. The 10-year treasury yield rose 7 basis points to 1.28%, continuing Monday's Covid fear rally.
Tech shares rose yesterday with better-than-expected earnings results, bolstering investors’ sentiment and helping most equity indexes edge higher.
On Monday, equities fell sharply, spooking investors globally.
Bitcoin has continued to trade towards the lows last seen in June. The 3.5% drop seems to be a daily occurrence at the moment as the nervousness in the market builds. Stocks, namely the Dow Jones, have suffered their worst day of 2021, as earning season reveals that the expected bounce back from removal of global lockdowns is muted.
Yesterday, BTC fell below $30,000 but, unlike the previous times, it didn’t immediately bounce back up.