Bitcoin (BTC) climbed to fresh local highs overnight into June 3 after United States equities cut losses.
Wall Street provides short-term relief
The mood among stocks was more solid during the June 2 session, with the S&P 500 reclaiming the majority of its lost ground over the past month. The Nasdaq Composite Index ended up 2.7%.
Analyzing the crypto market cap compared to the Nasdaq, popular analyst TechDev noted what could be an incoming inflection point.
— TechDev (@TechDev_52) June 2, 2022
Fellow trader and analyst Pentoshi, meanwhile, issued a sobering outlook for the S&P 500 on weekly timeframes going forward.
My current working theory for #SPX and markets in general is this. I had talked about 3840 in the past being a key…