Bitcoin has fallen back to the low end of its recent trading range during late-morning U.S. trading hours on Thursday as the tech-heavy Nasdaq tumbles 1.6%.
Trading at $66,300, bitcoin is now lower by 1.5% over the past 24 hours, while ether , just above $1,900, is down more than 2%.
The bitcoin price action — uncorrelated with the Nasdaq when that index is headed higher, but perfectly correlated when it heads lower — has become all too familiar for the crypto sector.
Bitcoin’s failure to hold any sort of sustained bounce from last week’s panicky levels has bulls seemingly in full capitulation mode.
Alternative’s well-followed Crypto Fear & Greed Index today fell to just 5, a level of “extreme fear” exceeding…
