Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
Tech Stocks
Bitcoin Leading Indicator For Tech Stocks, Analyst Says
A crypto analyst pointed out the correlation between BTC and Nasdaq - in which Bitcoin is a leading indicator. CNBC analyst Brian Kelly pointed to a correlation between Bitcoin and Nasdaq's tech index. The two assets seem to trade in lockstep. Kelly calls himself a Bitcoin televangelist and points to a chart showing BTC and Nasdaq together. Moreover, BTC appears to lead the tech index by "about 5 to 10 days." A 30-day rolling correlation between Bitcoin and Nasdaq is…
3 years ago