JUST

2024

Bitcoin

April

FIRST

<p>The contagion effect between US stocks and Bitcoin (BTC) may continue to make waves. The performance of the S&amp;P 500, which has recently fallen below its 50-day moving average, is already causing increasing nervousness among investors, which could spill over into the crypto market. How will this development affect Bitcoin?</p> 
<h2 id="h-the-movements-of-the-s-p-500-and-their-impact-on-bitcoin">The movements of the S&amp;P 500 and their impact on Bitcoin</h2> 
<p>The S&amp;P 500 has recently closed below its 50-day moving average, an event not seen for five months. Meanwhile, US stock indices are delivering mixed performances. A situation that is generally seen as a warning for the cryptocurrency market, particularly for Bitcoin.</p>
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<p>Indeed, when major stock indices fall, investors become cautious with their assets. The sense of uncertainty in the financial markets <a href="https://u.today/us-stocks-to-affect-bitcoin-btc-and-crypto-heavy-after-today" target="_blank" rel="noreferrer noopener">reflects on other digital assets, including Bitcoin</a>. Referring to movements of the S&amp;P 500, Bitcoin holders may anticipate a period of increased volatility. The contagion effect can lead some investors to sell their digital assets to reduce their exposure to risk.</p> 
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
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     <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f50e.png" alt="🔎" class="wp-smiley" style="height: 1em; max-height: 1em;">JUST IN: <br><br> *THE S&amp;P 500 CLOSES BELOW ITS 50-DAY MOVING AVERAGE FOR THE FIRST TIME IN FIVE MONTHS<a href="https://twitter.com/hashtag/techfx?src=hash&amp;ref_src=twsrc%5Etfw">#techfx</a> <a href="https://t.co/UgB0lHEpyh">pic.twitter.com/UgB0lHEpyh</a></p>— Tech-FX (@Techfx_en) <a href="https://twitter.com/Techfx_en/status/1780040147318517970?ref_src=twsrc%5Etfw">April 16, 2024</a>
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<h2 id="h-what-should-bitcoiners-expect">What should Bitcoiners expect?</h2> 
<p>Bitcoin is in a critical zone. The leading cryptocurrency is currently priced at $61,950 with a 3.78% decrease over the past 24 hours. This negative performance mirrors that of the last seven days, a period during which the queen of cryptos has lost 10.20% of her value.</p> 
<p>If Bitcoin manages to hold above $60,000, the next important threshold would be around $67,000. Historically, this level has posed challenges for the leading crypto. Surpassing this threshold could signify a resurgence of confidence and a possible bullish trend for Bitcoin.</p> 
<p>In case of a fall below $60,000, the next support for the queen of cryptos is around $50,000. Bitcoin’s value could thus rapidly tumble in this scenario.</p> 
<p>In conclusion, if the <a href="https://www.cointribune.com/en/the-sp-500-reaches-5000-points-historic/'indice%20a%20franchi%20les,%C3%A9tait%20sous%20les%204200%20points." target="_blank" rel="noreferrer noopener">S&amp;P 500</a> continues to fall, Bitcoin could face additional pressure and see its price drop. Conversely, a recovery in stock markets could help the leading crypto recover and potentially exceed its previous highs.</p>

The US Stock Market at Its Lowest: Will Bitcoin Hold Up?

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