Bitcoin and Ethereum fell again but the market may now be seeing a “brief disconnect” between crypto and the equity markets, according to analysts.
Bitcoin, the largest coin by market cap, slipped 0.73% to US$29,566, while Ethereum dropped 3.22% to US$1,918, with both coins still flirting with their respective support levels of US$30,000 and US$2,000.
Over the last year, crypto markets have mirrored the movements of global equity markets, mainly the Nasdaq in the US and the Hang Seng in Hong Kong, both of which are tech-laden indices.