Bitcoin Decoupling Nearing $12K As Wall Street Tumbled: Crypto Market Watch

Bitcoin Decoupling Nearing $12K As Wall Street Tumbled: Crypto Market Watch

Gate Trade News Tuesday, October 20, 2020 68 1

Bitcoin showed early signs of decoupling from Wall Street after surging to $11,820, while the US stock indexes slumped yesterday.

 

Bitcoin finally made a move in the past 24 hours and surged to a new 7-week high of over $11,800. Interestingly, BTC’s price increase contrasted with the US stock markets as the three most prominent indexes closed yesterday’s trading session with serious losses.

 

CryptoPotato reported yesterday that Bitcoin had remained relatively calm in the past several days, despite recent negative news. 

 

The popular digital asset exchange OKEx suspended withdrawals after reports that its founder was taken away by the police, and the CME gap left open at $11,100 suggested a possible short-term price drop.