The stars looked to be aligning for bitcoin late last week as tech stocks and Nvidia shares hit records, risk appetite improved and gold soared to all-time highs. In addition, reports of heavy buying of ETFs indicated strong investor demand.
Evidently that wasn’t enough to crack $70,000, let alone the March record high of $73,800. Bitcoin has chopped lower since before turning decidedly lower today, falling 2% to $65,900.
Bitcoin daily
Bitcoin looks like it needs some kind of fresh catalyst. I don’t think Middle Eastern strikes will do it and turmoil in the US election bad enough to affect markets would likely be negative as stocks are hit.
I thought there was a real chance to make a move this week…
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