• News
    • Stocks
    • Banks and Finance
    • Companies
    • Crypto
    • Forex
  • Videos
  • Articles
    • Forex CRM
    • Crypto Payments
    • Trading
    • Crypto Exchange Business
    • Forex Business
    • Fintech
    • Liquidity
    • FinTech Awards
  • Liquidity Providers List
  • Crypto Payment Providers

Dark Theme

Bitcoin Is Steady Above $29,000. Cryptos Are Holding Up as Stocks Sell-Off

May 19, 2022

Bitcoin Is Steady Above $29,000. Cryptos Are Holding Up as Stocks Sell-Off

In principle, Bitcoin (BTCUSD) and other cryptocurrencies are expected to trade independently of traditional financial markets. In actuality, a strong connection with equities, particularly technology stocks, has weighed on digital assets. But not as much as it might.

Bitcoin's price has risen in the last 24 hours and is now well above $29,500. The largest cryptocurrency's relative strength comes amid a rough day for US markets on Wednesday, with a selloff that continued into Thursday.

The Dow Jones Industrial Average fell 3.6 percent, and the S&P 500 fell 4 percent on Wednesday, marking the indexes' worst performances since June 2020. The 4.7 percent drop in the Nasdaq Composite (COMP) was only the worst since two weeks earlier, highlighting the pressure on tech stocks and correlated cryptos. The Dow Jones Industrial Average dropped more than 400 points in the early Thursday trade.

"Bitcoin is a volatile asset that is subject to greater suffering if the de-risking continues," said Edward Moya, an analyst at broker Oanda, late Wednesday. However, cryptos appear to be pretty strong.

While Bitcoin remains at its lowest levels since late 2020, changing hands at less than half the record high of $69,000 hit in November 2021, it hasn't dropped much farther after last week's cryptocurrency meltdown.

Bitcoin fell around $26,000 at the week's lows but has stabilized at $29,000 since Monday. Over the same timeframe, the S&P 500 has fallen 3%.

Other cryptocurrencies were similarly unmoved. Ether (ETHUSD) fell 1% to trade below $2,000. The token that powers the Ethereum blockchain network was trading above its recent low of $1,800, but it is still down by one-third from two weeks ago.

Smaller cryptos, or altcoins, had similar results. Cardano and Solana both fell by roughly 1%, while Avalanche fell by 7%.

Memecoins, which were created as jokes rather than real attempts to build viable currencies, were somewhat lower. Dogecoin and Shiba Inu were both about 2% into the red.

Terra (TerraUSD), a stablecoin created to be tethered to the US dollar but plummeted less than two weeks ago, triggering the cryptocurrency selloff, was trading at 8 cents. Luna (LUNAUSD), a comparable token that uses an arbitrage market mechanism to keep Terra stable, was trading at one-hundredth of a cent. It was worth $80 two weeks ago, making it one of the most expensive digital assets.

Subscribe Our Newsletter

Elon Musk Is Back on Twitter and This Time He’s Here to Stay

Milena

Elon Musk Is Back on Twitter and This Time He’s Here to Stay

The billionaire is now the new owner of the microblogging platform. He instantly fired the CEO, CFO, and content director. Let’s see what we will have next.

Companies
Apple, Microsoft, and 13 More Tech Stocks to Help Investors Forget the Fed
Apple, Microsoft, and 13 More Tech Stocks to Help Investors Forget the Fed

Investors in tech have not had a fantastic start to 2022: The Nasdaq Composite, which is heavily weighted toward technology, has been down 4.5 percent since New Year's Eve, and reductions were expected to continue Monday.

Companies
Constantine

Top 5 Most Prospective Tokens in the Metaverse.
Over the past 20 years, information technology has determined the development vector of the main spheres of society: economic, political, spiritual, and social.

discover
Market Maker Vs Liquidity Provider: Key Differences

Liquidity Provider

Market Maker Vs Liquidity Provider: Key Differences

Let's find out what is a market maker, what is the role of liquidity provider, what are Tier 1 and Tier 2 liquidity providers and their differences.

Liquidity

Contact Us

Contact the Liquidity Provider
for any questions and advertising inquiries b2broker

    Please fill out this contact form to get in touch with us

    / 3000

    By clicking “Get in touch” button, you agree to the privacy policy

    Tamta

    What Is Crypto Arbitrage Trading?

    https://liquidity-provider.com/app/uploads/2023/06/cover-1-800x540.jpg

    Tamta

    Guide to Craiyon: How To Use a New DALL-E Mini

    https://liquidity-provider.com/app/uploads/2023/06/cover-5-800x540.jpg

    Tamta

    Credit Cards vs. Debit Cards

    https://liquidity-provider.com/app/uploads/2023/06/cover-800x540.jpg

    Tamta

    Investing In Private Equity: What Should You Know?

    https://liquidity-provider.com/app/uploads/2023/05/cover-7-800x540.jpg

    Tamta

    What is Data Analytics? Techniques, Tools, Methodology, and More

    https://liquidity-provider.com/app/uploads/2023/05/cover-6-800x540.jpg

    Tamta

    Bitcoin Halving is Coming: What Does it Mean for the Crypto Market?

    https://liquidity-provider.com/app/uploads/2023/05/cover-4-800x540.jpg

    Tamta

    Crypto Token Supply From A to Z

    https://liquidity-provider.com/app/uploads/2023/05/cover-3-800x540.jpg

    Tamta

    What Is ChatGPT, And How Can You Use It?

    https://liquidity-provider.com/app/uploads/2023/05/cover-2-800x540.jpg

    Anton

    Trading on Autopilot: The Rise of Crypto Trading Bots

    https://liquidity-provider.com/app/uploads/2023/05/cover-1-800x540.jpg

    Tamta

    Crypto Investing vs. Crypto Trading: What’s The Difference?

    https://liquidity-provider.com/app/uploads/2023/04/cover-5-800x540.jpg

    Tamta

    Understanding Indexed Universal Life Insurance (IUL)

    https://liquidity-provider.com/app/uploads/2023/04/cover-4-800x540.jpg

    Tamta

    Best Investment Strategies For Beginners

    https://liquidity-provider.com/app/uploads/2023/04/image1-800x540.jpg

    Tamta

    Understanding Perpetual Futures: How Do They Work?

    https://liquidity-provider.com/app/uploads/2023/04/cover-3-800x540.jpg

    Tamta

    What Is A Bitcoin Stock-To-Flow Model? Beginner’s Guide

    https://liquidity-provider.com/app/uploads/2023/04/cover-2-800x540.jpg

    Tamta

    Best Decentralized Crypto Exchanges In 2023

    https://liquidity-provider.com/app/uploads/2023/04/cover-1-800x540.jpg

    Tatma

    Best High-Yield Savings Accounts For March 2023

    https://liquidity-provider.com/app/uploads/2023/04/cover-800x540.jpg

    Tamta

    Crypto Trading For Beginners

    https://liquidity-provider.com/app/uploads/2023/03/cover-8-800x540.jpg

    Tamta

    How To Make Money With Cryptocurrency

    https://liquidity-provider.com/app/uploads/2023/03/cover-7-800x540.jpg

    Tamta

    What Is A Candlestick Chart?

    https://liquidity-provider.com/app/uploads/2023/03/cover-6-800x540.jpg

    Constantine

    White Label Forex Software — Ultimate Guide on How to Choose The Best Industry Solution

    https://liquidity-provider.com/app/uploads/2023/03/cover-3-300x203.jpg

    Tamta

    Forex Trading: A Beginner’s Guide

    https://liquidity-provider.com/app/uploads/2023/03/cover-2-300x203.jpg

    Tamta

    How to Create a Cryptocurrency

    https://liquidity-provider.com/app/uploads/2023/03/cover-1-1-800x540.jpg

    Tamta

    Top Ten Richest People In The World, 2023

    https://liquidity-provider.com/app/uploads/2023/03/cover-4-1-300x203.jpg

    Constantine

    What’s at Stake? Here’s How to Avoid Scam Tokens

    https://liquidity-provider.com/app/uploads/2023/03/cover-5-300x203.jpg
    • News
      • Stocks
      • Banks and Finance
      • Companies
      • Crypto
      • Forex
    • Articles
      • Forex CRM
      • Crypto Payments
      • Trading
      • Crypto Exchange Business
      • Forex Business
      • Fintech
      • Liquidity
      • FinTech Awards
    • More
      • Videos
      • Liquidity Providers List
      • Crypto Payment Providers
    [email protected]

    © 2023 Liquidity Provider. All Rights Reserved

    Privacy Policy Cookie Policy