Bitcoin (BTC) starts a new week on a firmly bullish note as stocks tumble and BTC managed to close the week above $50,000.
After a mixed performance last week that saw multiple tests of $46,000, buyer support is entering and BTC/USD is within 15% of all-time highs.
Cointelegraph takes a look at what might lie in store for traders in the coming days with five factors likely to affect Bitcoin price action.
Stocks nosedive as USD gains
The tide is turning on the equities miracle of the past year, with indices falling left and right amid warnings that the rout is far from over.
On the back of significant losses in tech stocks, including crypto industry favorites Tesla and MicroStrategy, Asian stocks shed over 1% on the open on Monday.
Despite a strong close last week, expectations were for a knock-on effect for the U.S. prior to Wall Street returning. According to analysts at Morgan Stanley, the Nasdaq 100 could even touch its 200-day moving average, lying around 800 points below its…