Decoupling/Down month
After the weekend slump, many cryptocurrencies made strong gains Monday, as did major stock indexes.While bitcoin is following traditional markets, some traders are still looking for indications of decoupling. “Bitcoin rallied last week on inflationary fears in the U.S. It is the first time this year that it behaved as promised,” said Max Boonen, CEO of B2C2, a London-based over-the-counter (OTC) market maker. Market reader
While bitcoin has recovered from recent lows below $4,000, the cryptocurrency is still on track to end March with a double-digit price loss. The top cryptocurrency by market value is currently trading near $6,440, representing nearly a 68 percent rise from the low of $3,867 registered on March 13. Even so, prices are still down 24 percent on a month-to-date basis. If that loss is held through Tuesday's close, it would be the biggest monthly percentage decline since November 2018. Month's end
| 