RATE Group | Bitcoin Taps $8,000 as Violent Sell-Off Rocks S&P 500 Futures & Oil
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Bitcoin Taps $8,000 as Violent Sell-Off Rocks S&P 500 Futures & Oil

09 Mar Bitcoin Taps $8,000 as Violent Sell-Off Rocks S&P 500 Futures & Oil

Posted at 02:01h in Bitcoin News by

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It seems that bulls can’t catch a break. Bitcoin just minutes ago tapped $8,000 (per data from TradingView), bringing its 36-hour performance to a dismal -13%, having peaked at $9,200 on Saturday.

This latest leg lower comes after the cryptocurrency attempted to stabilize above $8,300 ahead of the weekly close, though this was done to no avail.

Bitcoin’s brutal drop comes as global markets have entered a period of dramatic volatility, or what some would say is chaos.

Case in point: ahead of Monday’s open, the futures of global equities are looking extremely bearish; crude oil futures are down 30%, gold is up to $1,700, the Dow Jones and S&P 500 futures are looking poised to open 5% down when Monday morning rolls around.

It appears that there’s a global crunch in all assets, save for gold and Treasuries, which are appreciating as fears of a recession (and potentially something wore) roll over markets.

Bitcoin At Key Level

With this move, Bitcoin has entered key bounce territory;…

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