CCT - Crypto Currency Tracker logo CCT - Crypto Currency Tracker logo
CryptoIntelligence 2024-10-21 08:55:00

Bitcoin to Catch Up With US Equities Amid Huge Breakout

Bitcoin is poised to “regain the spotlight” as its price movements catch up with U.S. equities, according to new analysis. In an Oct. 19 blog post, Caleb Franzen, founder of Cubic Analytics, highlighted the potential for a significant Bitcoin price breakout. Bitcoin needs to recover in order to align with the recent performance of U.S. stocks, as the S&P 500 continues to hit new all-time highs. Franzen analyzed BTC/USD relative to the Invesco S&P 500 Equal Weight ETF (RSP), noting that Bitcoin has not reached new highs against RSP since 2021 and has been consolidating within a regression channel. “On

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.