Strong Rally For Bitcoin And Crypto As Wall Street Melts Down

There’s a correlation between macroeconomic factors and crypto assets like Bitcoin. Harsh and stricter factors increase the volatility of virtual tokens negatively. This is also the case for equity stocks and their markets. The past week brought a downtrend to the primary cryptocurrency. Bitcoin was seen going toward the $19,000 region without any anchor. The south movement by the entire crypto market became more drastic as the US Federal Reserve released its new rate increase. Also, the equity market was not left out of the trend. Related Reading: LUNC Price Increases as Binance Decides To Burn Trading Fees Different Trends For Crypto And Equity Markets But this new week brings a difference in the trend between the crypto and equity markets. Wall Street initiated a corrective mode for most of the stocks. There was a sudden meltdown for the 3 top US indices as they displayed a 1% correction on Monday, September 26. Equity stocks and commodities plummeted by over 10%, but the MVIS CryptoCompare Digital Assets 100 index dipped by 1% within the last month. Bitcoin and other cryptocurrencies defied the price drop in the equity market from the beginning of the week. Instead, prices in the crypto market have followed a bullish trend despite all odds. This created a huge surprise within and outside the space as the correlation link with Wall Street failed. The price of BTC surged across the $20,000 level. This was after the str...