Bitcoin’s (BTC) recent losses have seen it somewhat diverge in performance from major U.S. equities this week.
The world’s largest cryptocurrency is down 4.5% in the past seven days at around $28,000. In comparison, the Nasdaq 100- BTC’s closest parallel in the stock market- is set for a 2% gain this week.
The divergence with the S&P 500 is even more. The benchmark index is up 3.3% this week.
While U.S. stocks have recovered somewhat in the past few days, BTC has lagged. This was also evident in the token’s Thursday session. Wall Street rallied past weak GDP U.S. data while BTC sank further below $29,000.
BTC is now holding around $28,000- its last major support level, after which it could see even deeper losses. The token has already fallen as low as $25,000 earlier this month.
Bitcoin performing much worse than stocks
With this week’s losses, the gap between BTC and the Nasdaq 100’s performance this year has widened substantially.
BTC is now down nearly 40%, while the
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