RATE Group | Bitcoin Climbs Past $9.5K as Analysts Stress ‘Decoupling’ From Stocks
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Bitcoin Climbs Past $9.5K as Analysts Stress ‘Decoupling’ From Stocks

16 May Bitcoin Climbs Past $9.5K as Analysts Stress ‘Decoupling’ From Stocks

Posted at 16:39h in Bitcoin News by

Bitcoin (BTC) rose to reclaim $9,500 on May 14 as the recovery from last weekend’s $1,200 crash gained fresh momentum.

Cryptocurrency market daily overview

Cryptocurrency market daily overview. Source: Coin360

BTC price up 11% in days

Data from Cointelegraph Markets and CoinMarketCap showed BTC/USD quash another resistance barrier in Thursday trading, taking three-day gains to 11%.

The past 24 hours alone has seen an uptick from closer to $8,900.

At press time, $9,500 appeared to be holding, the level marking a $1,300 improvement versus a momentary wick to $8,200 during the crash.

$8,200 marks the current zone of Bitcoin’s 200-day moving average.

Bitcoin 1-day chart

Bitcoin 1-day chart. Source: CoinMarketCap

Bitcoin’s fortunes this week contrast it even further with traditional markets and macro assets. This stock “decoupling,” which Cointelegraph reported on previously, shows no signs of abating. 

As Cointelegraph analyst Scott Melker wryly summarized on Twitter:

Remember that day that stocks dumped and Bitcoin went up? That was today….

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