As the US stock market rises, the one
While the U.S. stock markets were setting new record highs on Friday, the world's largest cryptocurrency, Bitcoin, came under selling pressure, as reported by Zamin.uz.
According to data from the TradingView platform, Bitcoin's price dropped below the $77,000 mark at the opening of trading on Wall Street, causing the cryptocurrency to lose nearly half a percent of its value on a daily basis.
This situation represents a logical continuation of the overall trend observed throughout the week. Specialists have not overlooked the fact that the opening of trading sessions in the U.S. is exerting significant negative pressure on the crypto market.
Interestingly, Bitcoin's price movement diverged from the positive changes seen in the stock market. For instance, the Dow Jones Industrial Average index reached another historical record high.
Moreover, the S&P 500 and Nasdaq 100 indices are also trading near their all-time highs. Analysts at Mosaic Asset Company emphasized in their market commentary that conditions for broad growth in the stock market could improve in the near future.
In their view, up to this point, average stock indices had been lagging behind, which had somewhat limited trading opportunities. Experts are drawing conclusions in market analysis based on specific indicators and the twenty-day moving average of stock movements.
At the same time, Bitcoin's Coinbase Premium index remains at monthly lows, indicating weak demand in the U.S. market. According to specialists, Bitcoin's ninety-day growth trend continues to maintain overall growth rates.
However, short-term volatility and the decoupling from the stock market are prompting investors to act more cautiously. In the coming weeks, the market's direction will depend on economic indicators.
