Bitcoin Bounce Stalls at $9K Amid 2% Rise in S&P 500 Futures

[Paglamon]

Prices rose to a high of $9,010 at 08:05 UTC, but quickly fell back below $8,900, pouring cold water over excitement generated by Monday’s 2.3% bounce from the two-week low of $8,630.

At press time, the number one cryptocurrency by market value is changing hands near $8,860, according to CoinDesk’s Bitcoin Price Index.

Meanwhile, the futures tied to the S&P 500, Wall Street’s equity index, are reporting over 2% gains Tuesday. Major European equity indexes are flashing green, too, with the U.K.’s FTSE index leading the way with a 1.33% gain, as per Investing.com.

West Texas Intermediate (WTI) crude, North America’s oil benchmark, has so far scored a 2.4% gain on the day, while safe havens such as gold, Japanese yen and the U.S. dollar are nursing losses.

Risk sentiment seems to have been buoyed by reports of a potential coronavirus vaccine. U.S.-based biotech company Novavax said on Monday it is beginning a phase 1 clinical trial of its COVID-19 vaccine candidate in Australia. Results are expected in July.
Source: https://www.coindesk.com/bitcoin-bounce-stalls-at-9k-amid-2-rise-in-sp-500-futures