06, Dec
BTC price: Bitcoin is seeing a trend that hasn’t happened since 2014.
It is a relatively rare phenomenon: While the stock market continues to experience record gains (the S&P 500 is up over 16% this year), Bitcoin and other cryptocurrencies continue to struggle, making it the first time the crypto and stock markets have split since 2014, Bloomberg reported.
That split, with Bitcoin down while stock markets soar, is somewhat unusual. On midday Friday, at the time of this writing, the digital cryptocurrency (BTC) was trading down over 4%, hovering around $88,945—far below its record high of over $125,000 but still above a recent low of $85,000 (down almost 30% from the high).
Why is the split between crypto markets and stock markets unusual?
While Bitcoin is known for its volatility, historically, the digital currency and stocks have traditionally risen and fallen together.
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