Dow Ducks Back Below 45,000 as Bitcoin Enthusiasm Fails to Carry Over to Equities
U.S. stocks were relatively unchanged on Thursday following a record day for equities, while bitcoin also reached all-time highs.
The Dow Jones Industrial Average dipped 116 points, or 0.3%. The S&P 500 and Nasdaq Composite both traded around the flatline.
Bitcoin traded more than 3% higher, breaking above $100,000 for the first time. The move led crypto-related stocks such as MicroStrategy and Coinbase respectively 0.7% and 3% higher.
Bullishness in crypto has previously translated into sharp gains for the Nasdaq Composite. However, this wasn’t the case on Thursday.
The three major averages saw solid gains in the previous session, posting record closes.
Source : CNBC