First Mover Asia: Bitcoin’s correlation with the stock market has created a circular economy with China – even though trading the asset is officially banned in the country. thesamreynolds, DantesOutlook, Liqquidity report.
Bitcoin’s correlation with the stock market has created a circular economy with China – even though trading the asset is officially banned in the country.
As lockdowns continue in Shanghai with possible expansions elsewhere, the CSE 300, a benchmark index of the 300 largest stocks in China, was down 3% while the Hang Seng Index, Hong Kong’s stock index, dropped 2%.Hang Seng, other indices the market to fight off a double-whammy of U.S. threats to de-list China stocks and continued COVID-19 fears.Bitcoin, in turn, fell 1% during Monday’s Asia trading day, and pushed further down throughout Monday trading in the U.S. At time of writing, it was up 2.
So as the stock indexes of the world’s largest economy nervously watch those in the world’s second-largest to see how this next and hopefully final chapter in the coronavirus plays out, bitcoin is caught in the middle. It is a reversal, mind you, from March when it was China markets moving up and U.S. stocks staying flat. Bitcoin didn’t follow the trend because it trades in response to U.S. movement – but now the"circular economy" of China bringing down the U.S. market has in turn brought down bitcoin in this session.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
First Mover Asia: The Metaverse Is Subject to Earth’s Boring Old RulesIt’s not that the NFT promotes the vice of gambling; rather, the problem is that the promise of profit-sharing likely makes it a security. thesamreynods and JPRubin23 report
Consulte Mais informação »
First Mover Americas: The Bitcoin Death CrossBitcoin’s three-day chart shows an impending death cross as a risk-off orientation drives prices lower. godbole17 reports in this morning's First Mover Americas.
Consulte Mais informação »
With two first-round picks, Eagles need to prioritize defense first, then wide receiverA draft simulator most frequently came up with a Georgia defensive lineman and an Ohio State receiver as the Eagles' likeliest picks in the first round.
Consulte Mais informação »
Hotel Chains From Hilton To Shangri-La Are Expanding Across Asia On Post-Pandemic Recovery HopesHotel chains are accelerating expansion plans across the Asia-Pacific region, betting on a post-pandemic recovery as countries gradually reopen to international travelers.
Consulte Mais informação »
Asia-Pacific Stocks Set to Open Lower After Wall Street Sell-OffShares in Asia-Pacific are expected to open lower Monday following a sell-off on Wall Street on Friday.
Consulte Mais informação »
First Drive: The All-Electric Mercedes-Benz EQE Blends Legendary Craftsmanship With a Smooth, Agile RideAlthough not the most powerful among its peers, the model distinguishes itself with craftsmanship and interior tech.
Consulte Mais informação »