Equity weakness could damp demand for bitcoin after biggest ETF inflows in a month
Photo: CoinDesk
Bitcoin BTC $81,392.72 dropped about 1.1% over the last 24 hours, ether ETH $2,383.17 fell 1.7% and the broader CoinDesk 20 ( CD20 ) Index lost roughly 1.6%, pulled lower by declines in Asian stocks and the rising price of oil. Further weakness in equities could damp demand, analysts at QCP Capital wrote in a note published Monday. That may be on the cards. Both Nasdaq 100 futures and S&P 500 futures are lower, with companies including Coinbase Global COIN and Galaxy Digital GLXY falling in pre-market trading.
Source: CoinDesk
