Bitcoin is now up 10% from the intraday low of $49,445 just a few hours ago.
On Friday, just after the equity close bitcoin slumped in a sign of what was to come in broader markets. This bounce could be a reversal of that, though it’s still a bruising day.
For many months, bitcoin moves have preceded the broader risk trade. It hasn’t been a perfect indicator, in part due to some BTC-specific moves and stock-specific moves in things like NVDA, but at a time like this, a short-term bitcoin chart is always up somewhere on my screen.
This article was written by Adam Button at www.forexlive.com.
