{"id":44212,"date":"2023-08-03T20:58:24","date_gmt":"2023-08-04T00:58:24","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/bitcoin-joins-the-stock-market-selloff-where-prices-could-find-support\/"},"modified":"2023-08-03T20:58:26","modified_gmt":"2023-08-04T00:58:26","slug":"bitcoin-joins-the-stock-market-selloff-where-prices-could-find-support","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=44212","title":{"rendered":"Bitcoin Joins the Stock Market Selloff. Where Prices Could Find Support."},"content":{"rendered":"
\n
<\/p>\n
<\/p>\n
<\/div>\n<\/figure><\/div>\n

\n Bitcoin
\n and other cryptocurrencies were in retreat on Thursday, falling amid a wide selloff in risk-sensitive assets after cryptos initially gained following a Fitch downgrade of the U.S. credit rating that slammed markets.<\/p>\n

The price of
\n Bitcoin
\n has shed more than 1% over the past 24 hours, falling to just above $29,000 and moving further from the range between the psychologically important $30,000 level and $31,000 that has provided the largest crypto with support for months.<\/p>\n

\n

\u201cBitcoin has managed to avoid accelerating the selloff, but it looks like it\u2019s only a matter of time before it does,\u201d said Alex Kuptsikevich, an analyst at broker FxPro.<\/p>\n

Bitcoin rose on Wednesday after the Fitch downgrade of U.S. debt\u2014briefly topping $30,000 as crypto bulls pointed at principles of deteriorating confidence in the financial system and decentralized alternatives\u2014but has since fallen back. The move lower in digital assets corresponds to a slide in the stock market, where the
\n Dow Jones Industrial Average
\n and
\n S&P 500
\n tumbled on Wednesday and were set for more declines on Thursday as Treasury yields popped higher.<\/p>\n

Bitcoin is flirting with key technical levels below its 50-day moving average, near $29,500, and is at risk of further declines. The next support level for token is at the rising 200-day moving average of $26,700 with long-term secondary support near $25,200, wrote Katie Stockton, managing partner at technical research firm Fairlead Strategies, in a note this week.<\/p>\n

Beyond Bitcoin,
\n Ether
\n \u2014the second-largest crypto\u2014dropped 1.5% to $1,830. Smaller cryptos or altcoins were weaker, with
\n Cardano
\n crumbling 4% and
\n Polygon
\n slipping 2%. Memecoins exhibited more of the same, with
\n Dogecoin
\n down 4% and
\n Shiba Inu
\n shedding 2%.<\/p>\n

Write to Jack Denton at jack.denton@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin and other cryptocurrencies were in retreat on Thursday, falling amid a wide selloff in risk-sensitive assets after cryptos initially gained following a Fitch downgrade of the U.S. credit rating that slammed markets. The price of Bitcoin has shed more than 1% over the past 24 hours, falling to just above $29,000 and moving further […]<\/p>\n","protected":false},"author":1,"featured_media":742,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-44212","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nBitcoin Joins the Stock Market Selloff. Where Prices Could Find Support. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Bitcoin and other cryptocurrencies were in retreat on Thursday, falling amid a wide selloff in risk-sensitive assets after cryptos initially gained\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=44212\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Joins the Stock Market Selloff. Where Prices Could Find Support. | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Bitcoin and other cryptocurrencies were in retreat on Thursday, falling amid a wide selloff in risk-sensitive assets after cryptos initially gained\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=44212\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-04T00:58:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-04T00:58:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/1682604487_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=44212#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=44212\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Bitcoin Joins the Stock Market Selloff. Where Prices Could Find Support.\",\"datePublished\":\"2023-08-04T00:58:24+00:00\",\"dateModified\":\"2023-08-04T00:58:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=44212\"},\"wordCount\":290,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=44212#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=44212\",\"url\":\"https:\/\/ifintechworld.com\/?p=44212\",\"name\":\"Bitcoin Joins the Stock Market Selloff. Where Prices Could Find Support. | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-08-04T00:58:24+00:00\",\"dateModified\":\"2023-08-04T00:58:26+00:00\",\"description\":\"Bitcoin and other cryptocurrencies were in retreat on Thursday, falling amid a wide selloff in risk-sensitive assets after cryptos initially gained\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=44212#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=44212\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=44212#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bitcoin Joins the Stock Market Selloff. Where Prices Could Find Support.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Bitcoin Joins the Stock Market Selloff. Where Prices Could Find Support. | iFintechWorld","description":"Bitcoin and other cryptocurrencies were in retreat on Thursday, falling amid a wide selloff in risk-sensitive assets after cryptos initially gained","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=44212","og_locale":"en_US","og_type":"article","og_title":"Bitcoin Joins the Stock Market Selloff. Where Prices Could Find Support. | iFintechWorld","og_description":"Bitcoin and other cryptocurrencies were in retreat on Thursday, falling amid a wide selloff in risk-sensitive assets after cryptos initially gained","og_url":"https:\/\/ifintechworld.com\/?p=44212","og_site_name":"iFintechWorld","article_published_time":"2023-08-04T00:58:24+00:00","article_modified_time":"2023-08-04T00:58:26+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/1682604487_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=44212#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=44212"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Bitcoin Joins the Stock Market Selloff. Where Prices Could Find Support.","datePublished":"2023-08-04T00:58:24+00:00","dateModified":"2023-08-04T00:58:26+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=44212"},"wordCount":290,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Investing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=44212#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=44212","url":"https:\/\/ifintechworld.com\/?p=44212","name":"Bitcoin Joins the Stock Market Selloff. Where Prices Could Find Support. | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-08-04T00:58:24+00:00","dateModified":"2023-08-04T00:58:26+00:00","description":"Bitcoin and other cryptocurrencies were in retreat on Thursday, falling amid a wide selloff in risk-sensitive assets after cryptos initially gained","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=44212#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=44212"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=44212#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Bitcoin Joins the Stock Market Selloff. Where Prices Could Find Support."}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/44212","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=44212"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/44212\/revisions"}],"predecessor-version":[{"id":44213,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/44212\/revisions\/44213"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/742"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}