• News
    • Stocks
    • Banks and Finance
    • Companies
    • Crypto
    • Forex
  • Videos
  • Articles
    • Forex CRM
    • Crypto Payments
    • Copy Trading
    • Crypto Exchange Business
    • Forex Business
    • Fintech
    • Liquidity
  • 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

What Economists Are Saying About Soaring Inflation

What Economists Are Saying About Soaring Inflation

Consumer prices rose to their highest level in four decades in January, with inflation across the economy showing few signs of a climax after months of gains.

Banks and Finance
4 New Stocks I’ll Likely Add to My Portfolio in 2022

4 New Stocks I’ll Likely Add to My Portfolio in 2022

There are a couple of equities that are near levels where it is impossible to resist purchasing. Therefore, the four equities listed below could be profitable and are worth adding to the portfolio in the coming year.

Stocks
Regi Publico

The Importance of Liquidity in Financial Planning
Whether personal or business, good financial health is an important part of life. You need a good cash flow to stay afloat, keep your business running, and succeed. When financial planning, aiming for liquidity is a must - even beyond propping up investments and futures.

discover
How to Identify Liquidity?

Liquidity Provider

Liquidity Provider

How to Identify Liquidity?

Let's find out how to identify Forex Liquidity, how to identify the liquidity of cryptocurrencies, and how to pick the best LP.

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

    Oliver

    How to Integrate Crypto Payment Gateway to Your Business?

    https://liquidity-provider.com/app/uploads/2022/07/how-to-integrate-crypto-payment-gateway-to-your-business-300x203.png

    Oliver

    How to Accept Crypto Payments as a Business

    https://liquidity-provider.com/app/uploads/2022/06/oblozhka-300x203.png

    Oliver

    What is a Crypto Payment Gateway?

    https://liquidity-provider.com/app/uploads/2022/06/shapka1-1-300x203.png

    Liquidity Provider

    Why Do Brokers Need PAMM Accounts?

    https://liquidity-provider.com/app/uploads/2022/05/why-do-brokers-need-pamm-accounts-300x203.png

    Regi Publico

    The Importance of Liquidity in Financial Planning

    https://liquidity-provider.com/app/uploads/2022/04/untitled-design-2-300x203.png

    Liquidity Provider

    What Are the Advantages of Paying with Bitcoin?

    https://liquidity-provider.com/app/uploads/2022/04/dizajn-bez-nazvaniya-3-1-300x203.png

    Liquidity Provider

    How to Promote PAMM/MAM & Copy Trading Service as a Broker

    https://liquidity-provider.com/app/uploads/2022/04/untitled-design-300x203.png

    Liquidity Provider

    How Do Crypto Payments Work?

    https://liquidity-provider.com/app/uploads/2022/03/untitled-design-10-300x203.png

    Liquidity Provider

    Top 6 Forex License Providers

    https://liquidity-provider.com/app/uploads/2022/03/frame-59318-300x203.png

    Liquidity Provider

    How to Get a FOREX License

    https://liquidity-provider.com/app/uploads/2022/03/untitled-design-1-300x203.png

    Liquidity Provider

    Top 5 Forex CRM Solutions for 2022

    https://liquidity-provider.com/app/uploads/2022/02/untitled-design-3-300x203.png

    Liquidity Provider

    5 FinTech Trends for 2022

    https://liquidity-provider.com/app/uploads/2022/02/untitled-design-2-300x203.png

    Liquidity Provider

    5 Tips for FinTech Startups

    https://liquidity-provider.com/app/uploads/2022/02/untitled-design-1-300x203.png

    Liquidity Provider

    What is NFT?

    https://liquidity-provider.com/app/uploads/2022/02/untitled-design-300x203.png

    Liquidity Provider

    What is Initial DEX Offering (IDO)?

    https://liquidity-provider.com/app/uploads/2022/01/untitled-design-1-1-300x203.png

    Liquidity Provider

    How Liquidity Provider Tokens Work

    https://liquidity-provider.com/app/uploads/2022/01/frame-59320-2-300x203.png

    Liquidity Provider

    How Does the Cryptocurrency Exchange Business Work?

    https://liquidity-provider.com/app/uploads/2021/12/frame-59315-300x203.png

    Liquidity Provider

    How Does The Forex Brokerage Business Work

    https://liquidity-provider.com/app/uploads/2021/12/frame-59303-3-300x203.png

    Liquidity Provider

    Top 10 White Label Exchange Solutions in 2022

    https://liquidity-provider.com/app/uploads/2021/12/frame-611012-300x203.png

    Liquidity Provider

    What is Liquidity Mining?

    https://liquidity-provider.com/app/uploads/2021/12/untitled-design-4-300x203.png

    Liquidity Provider

    What is Yield Farming?

    https://liquidity-provider.com/app/uploads/2021/12/untitled-design-300x203.png

    Liquidity Provider

    What is the Difference Between Centralized and Decentralized Exchange?

    https://liquidity-provider.com/app/uploads/2021/11/untitled-design-17-300x203.png

    Liquidity Provider

    What You Should Know About Energy Liquidity?

    https://liquidity-provider.com/app/uploads/2021/11/frame-59309-4-300x203.png

    Liquidity Provider

    What is Prime of Prime Liquidity?

    https://liquidity-provider.com/app/uploads/2021/11/frame-59319-3-300x203.png
    • News
      • Stocks
      • Banks and Finance
      • Companies
      • Crypto
      • Forex
    • Articles
      • Forex CRM
      • Crypto Payments
      • Copy Trading
      • Crypto Exchange Business
      • Forex Business
      • Fintech
      • Liquidity
    • More
      • Videos
      • Liquidity Providers List
      • Crypto Payment Providers
    [email protected]

    © 2022 Liquidity Provider. All Rights Reserved

    Privacy Policy Cookie Policy