Bitcoin Dips Below $30K As S&P 500 Officially Turns Bearish

2022.05.23 06:00

Bitcoin Dips Below $30K As S&P 500 Officially Turns Bearish

• The S&P 500 is down 20% from its latest peak.
• According to data from TradingView, BTC/USD trading was dipping below $28,700 coming into the weekend.
• Bitcoin is still just teetering on the edge.

The S&P 500 is down 20% from its latest peak, which now officially means it meets the definition of a bear market territory.

According to data from TradingView, BTC/USD trading was dipping below $28,700 coming into the weekend, subsequently adding around $500. Being down 4.7% from the previous day’s $30,700 highs, the pair seemed to be range bound after the United States stocks indices saw a volatile final trading day of the week.

The S&P 500 seemed to have reversed after initially falling at the open, although it is still showing bear market tendencies by trading at 20% below its high from last year.

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