The cryptocurrency market and regular stocks have been at odds for the past few days. Unlike Wall Street, though, crypto remains in the red and shows no signs of recovery.
Bitcoin is at a crossroads at $29,500.
Bitcoin’s price has dropped about 1% in the last 24 hours and is still hovering around $29,000 at the time of writing.
Surprisingly, this occurs during days when Wall Street is experiencing a relief bounce, with major indices well in the green after recent losses.
As can be seen in the chart above, BTC is significantly uncorrelated with the S&P 500, NASDAQ. Then, and Dow Jones Industrial Average (NDQ), all of which have recovered from their recent slumps.
This is especially true of altcoins, which have experienced steeper drops.
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