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: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • 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: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin Risks Plunging to $8K as Gold, Stocks Dive on Dollar Rebound

Yashu Gola
Yashu Gola
1 year ago
2 mins read
bitcoin, btcusd, xbtusd, btcusdt, cryptocurrency, crypto

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, gold, and global stocks fell in sync after a jump in virus cases moved investors to the safety of cash.
  • The sentiment helped the U.S. dollar index recover its losses by another 0.11 percent, bringing its total upside rebound to 1.43 percent.
  • Sebastien Galy, a strategist at Nordea Asset Management, noted the recent pullbacks would do little in harming the prevailing global market rally.

A spike in virus cases in China and the U.S. led investors to offload part of their profitable, risk-on positions for cash this Monday.

The U.S. dollar index, which tracks the greenback’s strength against a basket of foreign currencies, grew stronger by 0.11 percent. It was trading a little above 97.19 at the time of this writing. Meanwhile, it topped near 97.39 in the pre-European trading session.

Macro Collapse

The dollar’s strength sent its quoted assets lower, with global stocks, gold, and bitcoin diving hand-in-hand on Monday.

China’s CSI plunged 1.2 percent while Hong Kong’s Hang Seng index dipped by 2.2 percent. In Japan and South Korea, the benchmark stock markets Topix and Kospi dived dropped 2.5 percent and 4.8 percent, respectively.

The sentiment rippled across the European markets. London’s FTSE reported a 2.2 percent decline in the early morning trade, while Paris’s CAC 40 plunged 2.7 percent. In Frankfurt, the benchmark Dax dived 2.7 percent.

s&p 500, dow, hang seng, nikkei, topix
Global stocks plunged in sync on rising demand for cash. Source: FT

Futures tied to the U.S. benchmark S&P 500, too, fell 2.5 percent, pointing towards a day of red after the New York opening bell Monday.

Meanwhile, spot gold slipped by 1.3 percent to $1,708.11.

Bitcoin

A downside move across the macro assets put Bitcoin, an offbeat investment asset, in the same bearish trajectory Monday. The cryptocurrency plunged by 2.17 percent to $9,122 as of 1024 UTC. At its intraday lowest, it was trading at circa $8,895.

bitcoin, btcusd, xbtusd, btcusdt, cryptocurrency, crypto
Bitcoin price chart on TradingView.com showing its Monday plunge. Source: TradingView.com

The crash appeared after a long and sustainable price rally that took bitcoin up by more than 150 percent in just three months. However, a concrete resistance level near $10,000 sent the price lower back into a corrective spree multiple times.

The latest move, however, took Bitcoin below the support of its Ascending Triangle. Breaking below the pattern typically leads an asset lower by as much as the height of the triangle. It stands around $1,800 in the current Bitcoin fractal.

That roughly puts the cryptocurrency en route to $7,547 before it tests another technical support defined by its 200-day moving average (orange). It sits near the $8,000-8,200 range.

On a brighter note, one Wall Street veteran believes that the global market rebound is merely a technical correction. Sebastien Galy, a strategist at Nordea Asset Management, told FT that investors would reenter the market on the next dip.

“Such dislocations are oft an opportunity and we would posit the third wave upward in the equity market partially disconnected from fundamentals and driven by the quantitative easing of central banks,” he said.

The upside mood should reflect on Bitcoin as well, allowing it to retest $10,000 on its next bounce back.

Tweet123Share196ShareSend
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

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

加密貨幣集體上升 比特幣目標價13萬美元!現在下注百倍幣有哪些?

宏觀轉向牛市訊號紛至沓來,七月的開局猶如多頭列車啟動信號響起。加密貨幣市場全面走強,比特幣升穿11萬美元關鍵區間,以太坊亦隨之上攻,迷因與山寨代幣板塊迅速接棒,整體市值隨之水漲船高。 這場漲勢並非空穴...

Mark Mak 1 hour ago
Solana (SOL) Hints at Bearish Shift

Solana (SOL) Cools After Recovery — Resistance Proving Difficult to Crack

Solana started a recovery wave above the $150 zone. SOL price is now correcting gains and might struggle to rise...

Aayush Jindal 2 hours ago
XRP Price Recovery Fades

XRP Price Prepares for Possible Bounce — Support Levels In Focus

XRP price started a decent upward move from the $2.20 zone. The price is now correcting some gains and might...

Aayush Jindal 3 hours 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

Bitcoin Latest Rally Backed By Stronger Purchasing Power: Report

Keshav Verma 56 minutes ago

BTC-майнеры держат монеты, несмотря на низкую прибыль

lisachaikina 1 hour ago
Bitcoin Brushes $110K as Whales Pull Funds from Binance, What Are They Planning?

Bitcoin Brushes $110K as Whales Pull Funds from Binance, What Are They Planning?

Samuel Edyme 1 hour ago

Premium Sponsors

Press Releases

  • Top kryptoměna ke koupi dříve, než vzroste o 2 200 %, podle Cathie Wood

    Top kryptoměna ke koupi dříve, než vzroste o 2 200 %...

    9 hours ago
  • The smartest way to make money in 2025: Invest in cloud...

    16 hours ago
  • Od Bitcoinu k BTC Bull: Kde leží skutečný potenciál?

    ...

    16 hours ago
  • Bitcoin vs. Gold: Which Is the Best Investment In 2025?

    16 hours ago
  • Profit of $5,735, senior trader uses Ripple (XRP) to open...

    16 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

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.