Daily Bitcoin
Bitcoin is under pressure today, even if it is not at an all-time low. It is down 2% to $62,750 after a $1,000 drop and at the worst levels since April 19. It was the day before the halving, which was not the catalyst the bulls were hoping for.
An increasingly popular idea is that the favorable effects of the halving were taken into account at the same time as the ETF’s launch.
However, Bitcoin may not be as weak as it seems. Tech stocks have struggled lately and the correlation with Bitcoin is high. So even though Bitcoin is lower, it has held up better than the Nasdaq, which fell earlier this month to its lowest level since February.
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