The fall of the S&P 500 index caused a decline in the bitcoin rate

The trading session on the American stock market ended with a fall in the S&P 500 index.

This indicatorbusiness activity following the auction on Thursday, June 11, lost about 5% and dropped to 3,000 points. The outflow of capital from the market intensified in the second half of the session.

It was at this time that Bitcoin fell on the mainalmost $ 1000 crypto exchanges. The coin fell to $ 9070. However, there was no further drop, and BTC was able to stay above $ 9000, which many analysts took as a positive signal.

On Friday night, Bitcoin rose slightly and is now trading at $9,300. Experts associate the sharp drop in the value of the coin with the negative trend that dominates trading in the United States.

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Once again on performanceThe session was affected by the correlation between BTC and the S&amp;P 500. The drop in value occurred after long positions worth more than $65 million were liquidated on the BitMEX platform in two hours. At that moment, Bitcoin fell from $9,500 to $9,070.

This is not the first time analysts have noticed that crypto traders refuse to accumulate if capital leaves the stock market.

Avi Felman from BlockTower Capital emphasizes that the trajectory of BTC today again coincided with the behavior of the S&amp;P 500 index, which reflects the value of shares of leading technology companies.

Recently, the CEO of the BitMEX exchange, Arthur Hayesstated that if the S&amp;P 500 falls below 3000 points again, the crypto market will be in a crisis phase. The expert expects a fall in the value of not only Bitcoin, but also all leading altcoins, if the outflow of capital from the American stock market intensifies.

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