Bitcoin price movements are influenced by the US stock market momentum BTC and major altcoins stay in red ahead of the US opening. A popular cryptocurrency analyst and an author of S2F Bitcoin price model know on Twitter under the nickname PlanB admitted that Bitcoin’s recent price movements correlated to the US stock market momentum Bitcoin is down, and so is S&P500 .. “U.S. Stocks Tumble With Virus Threatening Economy”. Just like June 11 and just like the month March. This has nothing to do with “Whales”, “futures manipulation”, “Plustoken scammers” etc etc. This opinion is supported by the recent price developments, even though it is at par with a popular belief that Bitcoin is a safe-haven asset. While Bitcoin’s correlation with the traditional assets is often inconsistent, it tends to go down amid massive flight to safety. Top-3 coins overview BTC/USD touched the area below $9,000 during early Asian hours; however, all moves below this critical level is heavily bought at this stage. At the time of writing, BTC/USD is changing hands at $9,280, mostly unchanged since the start of the day. The coin may be vulnerable to sharp market movements ahead on the options and futures settlement on Friday. The local resistance is created by daily SMA50 on approach to $9,500. BTC/USD daily chart ETH/USD settled at $232.60 having recovered from the intraday low of $227.26. The coin is moving within the narrow channel with the with support created daily SMA50 and the lower line of the Bollinger Band at $222.50. The resistance comes at the recent high of $253.67. A sustainable move above this area is needed for the upside to gain traction. ETH/USD daily chart XRP/USD is still below $0.1900 despite the cryptocurrency recovery across the board. The coin has stayed mostly unchanged both since the start of the day and on a day-to-day basis, however the short-term bias is bearish. The critical resistance is created by a combination of daily SMA100 and the middle line of the daily Bollinger Band at $0.1930. The support comes at the recent low of $0.1785, followed by the psychological $0.1700. XRP/USD daily chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next S&P 500 opens in red for second straight day, closes in on 3,000 FX Street 2 years Bitcoin price movements are influenced by the US stock market momentum BTC and major altcoins stay in red ahead of the US opening. A popular cryptocurrency analyst and an author of S2F Bitcoin price model know on Twitter under the nickname PlanB admitted that Bitcoin's recent price movements correlated to the US stock market momentum Bitcoin is down, and so is S&P500 .. "U.S. Stocks Tumble With Virus Threatening Economy". Just like June 11 and just like the month March. This has nothing to do with "Whales", "futures manipulation", "Plustoken scammers" etc etc. This opinion is supported by the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.