{"id":418901,"date":"2020-03-22T22:56:25","date_gmt":"2020-03-22T22:56:25","guid":{"rendered":"https:\/\/uniquehot.com\/?p=418901"},"modified":"2024-06-11T13:46:39","modified_gmt":"2024-06-11T13:46:39","slug":"bitcoin-price-holds-surprisingly-well-sp500-futures-crash-5-minutes","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-holds-surprisingly-well-sp500-futures-crash-5-minutes\/","title":{"rendered":"Bitcoin Price Holds Surprisingly Well as S&P 500 Futures Crash 5% in 5 Minutes"},"content":{"rendered":"

Bitcoin has held surprisingly well over the past hour, despite global markets opening dramatically lower (by traditional standards) than they were during Friday’s close. In fact, the futures for the S&P 500 and the Dow Jones have all hit their limit down (circuit breaker) of 5%, with the former reaching 2,174 and the atter falling to 18,085, per data from TradingView.\u00a0<\/a><\/p>\n

With this, the S&P 500 is now more than 35% lower than its high above 3,300, established literally just a month ago. Bitcoin, on the other hand, has fallen 43% from its February high of $10,500 to $6,000, where it trades at as of the time of this article’s writing.<\/a><\/p>\n

The stock market’s latest bout of weakness, which may affect Bitcoin, is seemingly a result of a confluence of news regarding the spread of the coronavirus-caused illness COVID-19<\/a> and the related economic effects of this outbreak. These include but are not limited to:<\/p>\n

A 50% increase in U.S. coronavirus cases from Friday to Sunday.<\/li>\n

The activation of the National Guard in New York, Washington State, and California.<\/li>\n

The Senate’s coronavirus bill<\/a> failure to “clear the first procedural hurdle.”<\/li>\n<\/ul>\n
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U.S. SENATE CORONAVIRUS BILL FAILS TO GET ENOUGH VOTES TO CLEAR FIRST PROCEDURAL HURDLE; VOTING CONTINUES<\/p>\n
— First Squawk (@FirstSquawk) March 22, 2020<\/a><\/p><\/blockquote>\n