Bitcoin Price Dives as Dow Jones Hits New Highs

The divergence between cryptocurrency and stock markets has continued this week, with the Bitcoin price falling under $77,000 as the Dow Jones Industrial Average hits fresh all-time highs.

According to data from TradingView, BTC/USD retreated below $77,000 at the Wall Street open, down nearly 1.2% on the day.

The trend of weak US demand for Bitcoin has been a recurring theme throughout the week, with Binance buyers taking the lead in purchasing the cryptocurrency.

Despite this downturn, analysts predict that conditions may soon favor a broader stock-market push higher, citing an oversold breadth condition and a moving average convergence/divergence indicator.