Skip to main content
Abstract background

Bitcoin recaptures 13,400 as US equity markets stabilise

29 Oct, 2020

The US markets are in much better shape so far today. The earlier negative opening for the Dow Jones and the S+P 500 has been reversed and both indexes are well into positive territory now this afternoon. That improved risk dynamic has certainly helped Bitcoin to rebound too, after it had earlier taken another dip below 13,000. It was noted here at the time; that the price was already rebounding, and that recovery has now been extended as it lifts back above 13,400, reaching 13,485. What is interesting about this rise; is that it is taking place at the same time as the EUR/USD is falling, so there is a distinct disconnect currently playing out between the two. The simple reason for that is because the EUR/USD is moving lower on Euro weakness and not dollar strength based on any risk averse dynamic. Bitcoin is just now trading at 13,435

Welcome to StormGain — crypto trading platform!

Trade with 200× multiplier.