The bitcoin price careened below $11,000 after the Trump administration stunned the market by delaying new tariffs on China. | Source: REUTERS/Leah Millis/Shutterstock; Edited by CCN
The bitcoin price slid below the $11,000 mark for the first time in more than a week on Tuesday, as the flagship cryptocurrency’s burgeoning inverse correlation with the S&P 500 came back to bite investors.
Bitcoin Price Careens Below $11,000
Bitcoin had entered the day trading sideways in the low $11,000s, where it had more or less languished since the Saturday sell-off that followed BTC’s brief foray above $12,000 last week.
The dam broke around 10 am ET, and the bitcoin price cascaded below $11,000 to breach its lowest level since August 4.
The bitcoin price slid below $11,000 for the first time in…