• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
Bitcoinist.com
No Result
View All Result
bitcoin btcusd dollar dxy btceur
Nexo

Stock Market Sell Trigger Could Drag Bitcoin Down Later This Month

Tony Spilotro by Tony Spilotro
2 years ago
in Bitcoin
0
Advertisement

Bitcoin continues to trade sideways, but also has been unable to shake an ongoing correlation with the stock market. 

If the cryptocurrency doesn’t break out soon and break free from the shackles of the S&P 500, it could drag Bitcoin down at the end of the month.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Is Bitcoin Waiting For The Stock Market To Break Down?

For nearly two months straight now, Bitcoin price has been locked in a tight trading range. Volatility has been declining, and everyone is watching and waiting for what they expect to be a major, explosive move.

But even despite best efforts from both bears and bulls to break the range, things just keep pacing sideways. Concerning data shows that this could remain a lot longer than investors would hope or expect.

The boredom in the otherwise notoriously volatile asset class is essentially the max pain scenario for crypto traders.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

RELATED READING | HOW BITCOIN OUTPERFORMED BOTH THE S&P 500 AND NASDAQ IN FIRST HALF 2020

Those accustomed to Bitcoin’s wild price swings are now looking elsewhere, to altcoins like Chainlink, Tezos, or DeFi tokens.

What is the best crypto casino in July 2022? Read our comprehensive comparison! We made deposits, played and reviewed 80+ crypto casinos to choose the best one.

Bitcoin may be waiting for the stock market to break down, and that could be coming towards the end of the month.

bitcoin stock market sp500 spx

BTCUSD SPX Correlation Line Chart | Source: TradingView

Q2 Earnings Reports Coming Late July Could Be Straw That Breaks The Camel’s Back

The first quarter of the year took the S&P 500 to a new all-time high. Meanwhile, Bitcoin price was trading above $10,000. But Black Thursday and the pandemic had other plans and resulted in the stock market closing its worst quarter on record.

Now, the second quarter of the year has come to a close. The major corporations or companies listed on the stock market revealing their earnings could cause markets to collapse again.

The economy is on thin ice. A major stock market crash has been all but erased and kept afloat by stimulus money and Fed money printing. But the fragile market could collapse at any moment.

Come the end of the month, the sell trigger could arrive by way of company second-quarter earnings reports coming to light.

With Q2 now in the history books, businesses across the United States will reveal their revenue and earnings for the first half and the second quarter of the year. Q1 was already a struggle for most companies, which only lost March revenue due to quarantine conditions.

RELATED READING | ECONOMIST WARNS OF 1929-LIKE SECOND LEG DOWN; WILL BITCOIN FOLLOW?

In Q2, however, nearly the entire quarter was spent in lockdown, with things only just now starting to reopen in stages.

Negative performance in Q2 could be the Jenga-piece that sends markets toppling down when pulled later this month, and due to Bitcoin’s ongoing correlation with the S&P 500, it could be disastrous for the cryptocurrency.

Failure to break up through resistance here will have exhausted significant buying at this price level. It would also set a lower high, and if a lower low is set next, the crypto market could be in trouble and any new bull market delayed further.

There seems to be no escaping the potential impact of the pandemic, and even though stocks have sustained, they’re on thin ice and any pressure could cause another Black Thursday style selloff.

Worse yet, cases of the virus are still climbing in the United States, signaling that Q3 and Q4 may not be much better for these battered and beaten businesses, nor will it be for Bitcoin.

Featured image from Shutterstock.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

Related Posts

Bitcoin Crypto

Crypto Market Sees $510M Futures Flush As Bitcoin Breaks $24.5k

8 hours ago
bitcoin family

“Bitcoin Family” Loses $1 Million In Bear Market, What’s Next For Them?

10 hours ago
Zipmex Opens Crypto Withdrawals After Pausing Due To Volatile Markets

Zipmex Opens Crypto Withdrawals After Pausing Due To Volatile Markets

12 hours ago
Bitcoin UK Based Football Club Oxford City Embraces Bitcoin As Payment For Match Tickets

Why $10 Trillion AUM BlackRock Launched Spot Bitcoin Private Trust For Clients

13 hours ago
Crypto

Crypto Obsessed: Nigeria Tops Google Trends Search For Cryptocurrency Info

16 hours ago
Vinteum logo

Vinteum Will Train And Sponsor Bitcoin Developers In Brazil And Latin America

22 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.