How Bitcoin’s strong correlation to stocks could trigger a drop to $8,000

How Bitcoin’s strong correlation to stocks could trigger a drop to $8,000

The Bitcoin (BTC) price chart from the past couple of months reflects nothing more than a bearish outlook and it’s no secret that the cryptocurrency has consistently made lower lows since breaching $48,000 in late March.

Bitcoin price in USD. Source: TradingView

Curiously, the difference in support levels has been getting wider as the correction continues to drain investor confidence and risk appetite. For example, the latest $19,000 baseline is almost $10,000 away from the previous support….


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