Bitcoin Decoupling? BTC Rises as Equity Markets Swoon

Bitcoin is the first decentralized cryptocurrency. Based on a free-market ideology, bitcoin was invented in 2008 by an unknown entity under the pseudonym of Satoshi Nakamoto. Use of bitcoin as a currency began in 2009, with the release of its open-source implementation. In 2021, El Salvador adopted it as legal tender

Bitcoin to Catch up to Gold, Fundstrat’s Tom Lee Says, Here’s Key Argument

U.Today - Fundstrat expert Tom Lee has joined the team of CNBC’s Squawk Box hosts to talk about Bitcoin and gold. The latter reached a new all-time high at the beginning of April, while BTC only began to rise this Sunday.

However, while Lee is absolutely bullish on Bitcoin’s further price trajectory, the leading commodity expert of Bloomberg Intelligence, Mike McGlone, has shared a totally different view with his X followers today.

In brief

• Donald Trump called Jerome Powell "a major loser" and "Mr. Too Late."
• Bitcoin showed strength against stock indices as altcoins wavered.
• Gold's price set a new all-time high of $3,442 per ounce.

Bitcoin may now start catching up to gold, Lee says

While the main stock market indexes — the Nasdaq, S&P 500 and Dow Jones — are tumbling, Bitcoin has demonstrated a sudden increase today, rising by 3.44% and reaching above $87,700. That peak did not hold long, however, and by now BTC has rebounded a little but is still trading higher than $87,100.

About Bitcoin

Bitcoin is a decentralised payments system using permissionless peer to peer payments technology. Transaction management and money issuance are carried out collectively by the Bitcoin network using public-key cryptography, peer-to-peer networking, and proof-of-work to process and verify payments.

Price of BTC in USD

Bitcoin’s price continues to trend upwards, breaking above the coveted psychological and technical resistance level at $90,000. The last time it traded at this level was on March 7th – around six weeks ago.

The cryptocurrency is now up 3.3% in the past 24 hours, bringing its total weekly gains to 7.3%. According to CoinGecko, its dominance over the rest of the market currently stands at 61.6% and has been increasing through the day as well. This signals that BTC is outperforming the altcoin market.

As CryptoPotatoreportedearlier today, Bitcoin’s dominance is at a 4-year peak, signaling strong investor confidence in the primary cryptocurrency.

Speaking of altcoins, most of them are in the green as well. Ethereum is charting a 1.5% increase, XRP is up by 1%, while SOL and DOGE are performing better, surging by almost 4% each.

Bitcoin price history

How much has the price of Bitcoin changed over the past 7 days?

The price of Bitcoin has changed by +2.99% in the past 7 days.

How much has the price of Bitcoin changed over the past year?

The price of Bitcoin has changed by +33.27% in the past year.

What was the highest price of Bitcoin over the past year?

Bitcoin reached its highest price over the last year with a value of $169,561.07 per 1 BTC.

What was the lowest price of Bitcoin over the past year?

Bitcoin reached its lowest price over the last year with a value of $80,409.69 per 1 BTC.

This move has caused an uptick in liquidated positions across the derivatives market, which currently stand at around $320 million, according to data from CoinGlass. Naturally, the majority of these are short positions accounting for around $190 million of the total.