NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?

Bitcoin Jumps $9,100 as Dow Prepares For Massive 400-Point Open

Yashu Gola
Yashu Gola
1 year ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

  • Bitcoin breaks above $9,100 hours ahead of New York opening bell.
  • The gains surfaced as the futures linked to Dow Jones suggested a 400-point rally after Wednesday’s open.
  • Investors also felt buoyed by Goldman Sachs’s early morning call with clients on Bitcoin.

Bitcoin closed above $9,100 in a surprising upside move after trading sideways for the entire Asian and early European trading session Wednesday.

The benchmark cryptocurrency topped near $9,191 less than two hours ahead of the New York opening bell. The wild move upside took only a couple of hours to rise by almost $350. It accompanied rising trading volumes, thereby leaving hints of a breakout move towards $9,500.

bitcoin, cryptocurrency, btc usd, crypto, dow, dow jones, XBTUSD, BTCUSDT
BTCUSD rises 4 percent in just three hours | Source: TradingView.com, Coinbase

Bitcoin’s gains also followed a 10 percent downside correction after it failed to break above $10,000. That left the cryptocurrency under the risks of continuing its prevailing trend unless traders are willing to buy the next local tops.

Dow Jones Rally

Bitcoin’s rise also took cues from a similar price rally in the Wall Street indices. Futures tied to Dow Jones rose 1.6 percent, suggesting that the index’s 1.40 rally on Tuesday may extend by another 400 points after the New York opening bell.

bitcoin, cryptocurrency, btc usd, crypto, dow, dow jones, XBTUSD, BTCUSDT
Bitcoin and Dow Jones moving in opposite directions in May | Source: TradingView.com

That showed the first signs of Bitcoin retaining its short-term positive correlation with Wall Street indices. The cryptocurrency moved in tandem with the S&P 500, the Dow Jones, and the Nasdaq Composite after their crash in March 2020. But in May, the correlation decoupled.

Bitcoin, which was sitting atop 150 percent profits from its March 2020 low, became a profit-taking destination, which caused a price drop. On the other hand, the Wall Street indices surged higher on optimism that economic activity is picking momentum after months of pandemic-induced lockdown.

Meanwhile, the rallies in both Bitcoin and Dow Jones appeared against the backdrop Federal Reserve’s open-ended stimulus program. Analysts believe that higher levels of liquidity helped the markets grow higher, thereby establishing a positive correlation between risk-on and risk-off sets.

Goldman Sachs’s Bitcoin Call

Bitcoin price also rose hours ahead of Goldman Sachs’s call to clients today.

Goldman Sachs last week sent an invitation to its clients to join them to discuss the “implications of current policies for inflation, gold, and bitcoin” on May 27 at 1030 EDT. While the note didn’t reveal anything more, observers in the cryptocurrency market postulated it as a positive sign for Bitcoin.

Jonathan Habicht, the founder of crypto research group Blockfyre, asserted in a tweet that Goldman Sachs is looking to gain exposure in the Bitcoin market.

“While this looks like a huge 180-degree turn, I think big institutions had BTC on their radar for a long time now,” he wrote. “Recent economic events just accelerated this shift in sentiment from traditional investors.”

Tweet123Share211ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

XRP

Expert Says No ‘Magic Switch’ For XRP Price, Here’s What Can Drive Price Above $2,500

Crypto expert Jake Claver has explained what needs to happen for the XRP price to rally to as high as...

Scott Matherson 1 hour ago

Previsioni Bitcoin: di Nuovo a un Punto Critico

Bitcoin si trova nuovamente a un punto di svolta, mentre il mercato fatica a riprendersi dalla forte pressione di vendita....

Orfeo Barone 1 hour ago
비트코인 가격 상승 가능성? 비트코인 하이퍼 프리세일에 투자자 유입 가속

비트코인 가격 상승 가능성? 비트코인 하이퍼 프리세일에 투자자 유입 가속

이달 중 비트코인($BTC) 가격이 12만 5천 달러를 넘어설 가능성이 약 25%에 달할 것이라는 예측이 분산형 베팅 플랫폼 폴리마켓(Polymarket)에 제기됐다. 다만 현 시...

Soyeon Lee 1 hour ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin Net Liquidations Stay Negative Near $40M: Analyst Warns Downside Still In Play

Sebastian Villafuerte 5 minutes ago
Binance's Aster Soars 1800% in a Week Despite Market Crash: Is Bitcoin Hyper Next?

New Perpetual DEX Protocols Avantis & Aster Surge Amid Market Pullback with Bitcoin Hyper Ready to Launch

Aaron Walker 38 minutes ago
Trump crypto pensioenplan in gevaar? SEC bespreekt deadline

Trump crypto pensioenplan in gevaar? SEC bespreekt deadline

Lars Diederiksen 45 minutes ago

Premium Sponsors

Press Releases

  • ドージコイン 今後の価格予測:ウォールストリートが注目する「1ドル圏」への道

    ドージコイン...

    2 hours ago
  • Сезонът на алткойните е тук. Три фактора се очаква да задвижат ралито

    Сезонът на алткойните е тук. Три...

    2 hours ago
  • リップル 今後の価格に重大な不安要素、新たに注目すべき仮想通貨とは

    リップル...

    2 hours ago
  • 投資家から1,700万ドル超を調達した注目の仮想通貨プレセール

    ...

    3 hours ago
  • 次の市場ラリーでソラナやリップルを超える可能性を持つ1ドル未満の仮想通貨おすすめ銘柄

    ...

    3 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.