Bitcoin Movement Decouples From Equities — Market Talk

Bitcoin prices have been rangebound over the past month, trading within the range of $62,000 to $67,000, according to data from CoinGlass. Bitcoin doesn't appear to be reflecting the volatility seen in the stock market, which analysts are taking as a sign that the macroeconomic focus that cryptocurrencies have shown in the first half of this year may be eroding. "Without a strong catalyst, the market stays illiquid on low spot volumes," says analysts with Bitfinex in a note. Bitcoin is up 0.1%, to $64,388, while other major cryptocurrencies are mixed. Meanwhile, the S&P 500 is flat and the Nasdaq falls 0.5%. ([email protected])