There is a divergence unfolding with the Nasdaq up 1% but bitcoin now at the lows of the day, down nearly 3%.
Bitcoin had showed some strength early in US trading but couldn’t crack $97,500 and sellers have now taken over in a relatively quick drop to $94,500, which is the lowest since Thursday.
I’m not sure I would take that as a sign of waning risk appetite today because the battle for $100K is so fierce and bitcoin specific. There are layers of support all the way down to last week’s low of $90,640.
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