Rumours of an impending stock market futures crash dragged Bitcoin price below the $9,000 mark.
According to data from Coindesk, the price of Bitcoin (BTC) dropped below $9,000 in the early hours of Monday, June 15. Within the past 24 hours, BTC has gone from a high of $9,435 to a low of $8,910. It is the lowest BTC has fallen since May 28.
The bearish move is as a result of the sell order triggered by various US stock indexes losing hundreds of points. On Sunday, June 14, Dow Jones futures lost 900 points. Many investors see this as a sign of an impending crash.
Although BTC has historically resisted the impact of the stock market, there are still investors who transfer sentiments between the two. Yoni Assia, founder, and CEO of eToro, a social crypto trading platform, warned in a tweet that:
“There is a crash coming soon (in the equities market), in the next 3 weeks, someone, not sure whom, is going to sell/short their position and crash the markets. Buyers beware.”
Last week, BTC enjoyed a steady rise from the beginning of the week in an attempt to regain its $10,000 high before getting knocked down by almost $800 on Thursday. As of press time, BTC is currently trading at $9,248.
Image Credits: Pixabay
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