Bitcoin trades in a $ 29,000 "no man's land" where Tesla ESG cancels shares

Bitcoin trades in a $ 29,000 “no man’s land” where Tesla ESG cancels shares – Mail Bonus

Bitcoin (BTC) remained $ 1,000 lower on May 19 after a miserable trading session on Wall Street the day before, which pushed wages up further.

BTC / USD 1 hour candlestick (bit stamp). Source: TradingView

Musk explodes ESG “cheat” after the S&P 500 stops

Data from Cointelegraph Markets Pro and TradingView showed that BTC / USD was around $ 29,000 at the time of writing, after bouncing at $ 28,600 on Bitstamp.

The pair had fallen in line with US equities, with the S&P 500 in particular focus as it set its biggest daily decline since June 2020.

The drama of Tesla, which was taken out of the index in ongoing controversy, contributed to poor performance.

The company’s CEO, Elon Musk, publicly reprimanded those responsible for the decision, which appeared to be tied to compliance with so-called environmental, social and governance (ESG) requirements.

“ESG is a scam. “False fighters have used weapons for social justice,” part of Twitter’s response read.

Cathie Wood, founder and CEO of investment giant Ark Invest, called The decision to exclude Tesla is “ridiculous” and “not worthy of any other answer.”

When anti-inflation measures begin to take hold, the outlook for venture capital is at best a “concentration” in the coming months, some said.

CredibleCrypto’s popular trading account agreed that Bitcoin was copying behavior that the S&P 500 showed during the global financial crisis of 2008.

While bond markets could benefit from the financial restraint of central banks around the world, there was little faith in their investment assumptions among the sources for Bitcoin.

Dylan LeClair, an analyst focusing on reading from Vanguard’s Total Bond Market Exchange-Trade Fund (ETF), called it is the “global bubble that is collapsing in real time”.

“This is going to get crazier,” he added the other day.

Outside of cryptocurrencies, as Cointelegraph recently reported, market analyst Holger Zschaepitz often refers to the situation as “the biggest bond bubble in 800 years.

Concerns remain over fresh Bitcoin macroeconomic lows

Returning to the shorter Bitcoin timeframe, the outlook remained focused on potential moves above $ 30,000 before making a deeper correction.

Connected: The first 7-week losing streak in history – 5 things to know about Bitcoin this week

“Probably some momentum towards $ 29.7K possible. The question is whether we can keep $ 29.3K going forward, but overall I still expect HL to happen on Bitcoin as we continue towards $ 32.8K / $ 34K, “Cointelegraph contribution Michaël van de Poppe said Followers of Twitter overnight.

Crypto Tony’s correspondent, meanwhile, reiterated his statement that BTC / USD had not really bottomed out in the tip last week to $ 23,800 and that more extensive “capitation” was due.

Extra entry described BTC price action of the day as far as being in “no man’s land”.

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