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 Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%
  • 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 Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%

This New Economic Narrative Could Shift the Tides Into Bitcoin’s Favor

Cole Petersen
Cole Petersen
1 year ago
2 mins read
Bitcoin

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 has been closely tracking the traditional markets in recent months, which is part of the reason why it has been caught within such a persistent trading range since the start of May.

The equities market has been stable as of late, with its ongoing consolidation coming close on the heels of a historic rebound than can be accurately described as a “V-shaped” recovery.

It doesn’t appear that investors are too confident that the economic damages done by the ongoing pandemic will subside anytime soon. The current range-bound trading in equities will likely persist until more data elucidates how fast the economy will be able to recover.

This will undoubtedly influence Bitcoin’s price action one way or another, as the crypto has formed a tight correlation to the stock market.

In the near-term, this may play to BTC bulls’ favor, as one analyst is noting that a shifting global economic narrative could boost the cryptocurrency.

Bitcoin’s Weakness Doesn’t Invalidate Stock Market Correlation 

At the time of writing, Bitcoin is trading down nearly 2% at its current price of $9,060. The cryptocurrency has been trading around this price level for the past few days.

Yesterday, buyers did attempt to propel BTC past $9,300, but this appears to have become a resistance level, as the rejection here is what caused it to slide down towards its current price levels.

BTC has formed a striking correlation to the stock market in recent months, although this has not held today.

Data from the analytics platform Skew elucidates this trend, showing that Bitcoin and the S&P 500 have seen a rising correlation in recent times.

Data via Skew.

All the benchmark indices were able to end the day in the green due to some positive data regarding unemployment numbers in the US.

Despite this rebound, the benchmark cryptocurrency is still flashing some major signs of weakness as it hovers just a hair above $9,000.

This correlation could degrade slightly in the near-term as both assets trade sideways but may then pick back up once the stock market begins trending in one direction or another.

Shifting Economic Narrative Could Bolster BTC, Claims Analyst

Luke Martin, the host of the popular Coinist Podcast and a respected analyst, explained that global economic narratives have been helping to shape Bitcoin’s price action.

As such, a new shift that these narratives are undergoing could help bolster the benchmark cryptocurrency.

“Stocks, BTC, & ETH all printed their highs around June 8th. •News cycle then: ‘[virus] cases spike as economy re-opens.’ •News cycle now: ‘As cases spike, hospitalizations & deaths continue decline.’ Add some positive economic news & we could see those highs again soon,” he explained.

Upcoming data regarding the growth rate of the pandemic and the longevity of its damages to the economy will likely play a considerable role in Bitcoin’s future price action.

Featured image from Shutterstock.
Tweet123Share196ShareSend
Cole Petersen
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

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

bitcoin

Bitcoin Market Faces Supply Squeeze As Scarcity Index Turns Positive Again

After hitting a weekend high of $116,689 on September 15, Bitcoin (BTC) fell slightly, trading just above $114,000 at the...

Ash Tiwari 3 hours ago
도지코인, 클린코어 1억 2,500만 달러 매입에 20% 급등… 맥시 도지까지 수혜 가능성

도지코인, 클린코어 1억 2,500만 달러 매입에 20% 급등… 맥시 도지까지 수혜 가능성

도지코인이 최근 꾸준한 상승세를 보이며 약 20% 상승한 0.25 달러 선에 안착했다. 이번 상승은 클린코어 솔루션(CleanCore Solutions)의 대규모 매수에 힘입은 것...

Soyeon Lee 3 hours ago
Bitcoin Bears Alert

Bitcoin Bears Alert – Price Could Slip Toward $112K Soon

Bitcoin price is correcting gains from $116,500. BTC is now consolidating and might start a fresh decline if it stays...

Aayush Jindal 4 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

Analyst Raises Red Flags On Bitcoin Price: Allegations Of Market Manipulation

Ronaldo Marquez 18 minutes ago
Altcoin, solana

Helius Joins Solana Treasury Trend With $500 Million Funding For New DAT Strategy

Rubmar Garcia 1 hour ago

SkinsLuck透明化改革引爆CS2賭場革命 黑箱時代結束玩家不再盲賭

Kelvin Lee 3 hours ago

Premium Sponsors

Press Releases

  • 5 kryptoměn, které je třeba sledovat v listopadu kvůli potenciálnímu růstu o 5 000 %

    5 kryptoměn, které je třeba sledovat v listopadu kvůli...

    9 hours ago
  • Kterou kryptoměnu koupit nyní | Nejlepší kryptoměny k investování v roce 2025

    Kterou kryptoměnu koupit nyní – Nejlepší...

    9 hours ago
  • 5 kriptovaluta koje treba pratiti u studenom zbog potencijalnog rasta od 5.000%

    5 kriptovaluta koje treba pratiti u studenom zbog...

    9 hours ago
  • Nejlepší altcoiny k nákupu před rozhodnutím FEDu 17. září o úrokových sazbách

    Nejlepší altcoiny k nákupu před rozhodnutím FEDu 17...

    9 hours ago
  • Najlepšie kryptomeny na investíciu v roku 2025

    Ktorú kryptomenu kúpiť teraz | Najlepšie kryptomeny na...

    10 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.