The Bitcoin (BTC) price has just finished its seventh consecutive week in the green. Last time this happened, the crypto king rallied by 182 percent in the span of 11 weeks.
image by tradingview.com
Taking a breather
After fully recovering from the gargantuan price drop in March, BTC has so far struggled to gain footing above the $9,000 level as Vegatta memes get out of control.
With Bitcoin plunging more than four percent to $8,528, this week is already off to an underwhelming start. That said, BTC was due for a respite after such a strong advance.
Stock futures fall
Bitcoin’s four percent drop coincided with U.S. stock futures opening sharply lower. E-mini Dow futures have so far retreated 0.88 percent or 207 basis points.
Notably, Bitcoin surged above $9,000 May 1 despite a red day on Wall Street, but it appears that Bitcoin is yet to decouple from the equity market.