"Stock market a record-high feast, coins a hell"...Bitcoin, retail investors panic as $77,000 collapses

▲ Bitcoin (BTC)

"Stock market a record-high feast, coins a hell"...Bitcoin, retail investors panic as $77,000 collapses

Bitcoin (BTC) fell below $77,000, showing a divergent trend from the U.S. stock market. While the Dow Jones Industrial Average set a new all-time high, the cryptocurrency market was pressured by selling as U.S. trading began.

Cointelegraph reported on May 22 (local time) that Bitcoin retreated below $77,000 immediately after Wall Street opened, falling approximately 1.2% on a daily basis. Bitcoin has been under bearish pressure during early U.S. trading hours throughout this week, showing a clear divergence from the strength of the U.S. stock market.

The Dow Jones Industrial Average broke its all-time high early in the session. The S&P 500 and Nasdaq 100 also traded near their all-time highs. U.S. President Donald Trump also mentioned the Dow Jones Industrial Average's record-high trend.

Trading resource Mosaic Asset Company analyzed in a recent market commentary that the U.S. stock market is poised for further gains. The institution explained that while there was a bearish divergence between major indices and individual stock movements, an oversold condition is forming, and the Moving Average Convergence Divergence (MACD) index also confirms this, which could trigger a short-term rebound.

In contrast, signs of slowing U.S. demand continued in the Bitcoin market. The Coinbase Premium Index moved near its monthly low, indicating weakening buying interest from U.S. investors. Anonymous market commentator Exitpump noted that Binance traders, unlike Coinbase investors, were stepping up their buying.

Trader CW stated via X (formerly Twitter) that “the negative value of the Bitcoin Coinbase premium is getting larger,” and “U.S. investors are not keeping up with Binance’s buying power.” CW added that whale investors tend to accumulate Bitcoin at relatively lower prices by utilizing negative premiums.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. This content should be interpreted for informational purposes only.*