Bitcoin (BTC) rate crashes to below $ 9,000 USD at the start of the week – transaction fees drop

While the stock market closed with green numbers last week, the upward trend does not seem to be continuing on Monday. The cryptocurrency Bitcoin (BTC) once again proves the strong correlation with the large stock indices. The Bitcoin price crashed briefly to under $ 9,000 USD at the start of the week. The good news: Bitcoin transaction fees continue to fall.

 

Bitcoin (BTC) rate crashes to below $ 9,000 USD at the start of the week – transaction fees drop

While the stock market closed with green numbers last week, the upward trend does not seem to be continuing on Monday. The cryptocurrency Bitcoin (BTC) once again proves the strong correlation with the large stock indices. The Bitcoin price crashed briefly to under $ 9,000 USD at the start of the week. The good news: Bitcoin transaction fees continue to fall.

 

Bitcoin price drops, entire crypto market turns red

While the futures of the major stock indices S&P, NASDAQ and DOW Jones are down by more than 2.5%, this development is already reflected in the Bitcoin price. After Bitcoin finally broke the $ 10,000 USD mark on June 2, 2020 – only to lose all profits shortly thereafter – Bitcoin’s price crashed to below $ 9,000 USD on Monday. This is bullish for Bitcoin because it is seen by many as a hedge against inflation. However, the profits that developed as a result of this news were eliminated today.