Bitcoin price fell below $ 9K amid heavy stock market losses
Bearish's move towards the stocks appeared in line with rumors of an impending incident, with Bitcoin reaching its lowest level in nearly 3 weeks.
The bitcoin price fell below $ 9K amid the futures stock market losses NEWS
Bitcoin (BTC) fell below $ 9,000 on June 15 when a new week created new selling pressure on macro assets.
Overview of the daily cryptocurrency market. Source: Coin360
Bitcoin price tests $ 9,000 resilience
Data from Cointelegraph Market and CoinMarketCap show BTC / USD entering the $ 8,000 range in Monday trading - the first since May 28.
The latest bearish move after a tough week for Bitcoin, in which the markets almost regained $ 10,000 before plunged $ 800 for a few hours on Thursday.
After spending the week at around $ 9,400, support has given way once again when the outlook for the week on the stock market looks bleak.
At press time, BTC / USD traded at around $ 9,000 in an attempt to reset the level as a support.
1-day Bitcoin chart. Source: CoinMarketCap
Stocks wobbly in anticipation of the incident
On Sunday, the Dow Jones futures alone fell 900 points, with the US market similarly uncertain before opening.
As Cointelegraph reported, Bitcoin is becoming more and more flexible with the effects of significant stock up or down, a process known as disassociation.
However, the hint of correlation remains, with Bitcoin currently at its lowest level in more than two weeks. Last week issued a warning that traditional markets are due to a type of incident correction over the next three weeks.
At the same time, Cointelegraph analysts think that $ 10,000 will continue to evade the market for a short time - and perhaps for much longer.