I just checked the chart and Bitcoin is trading below $66,000, more like in the lower mid-range when compared to recent levels. The thing is, the crypto market is closely following what’s happening with the U.S. stocks.

I noticed that when stock markets fall, Bitcoin and the rest of the cryptocurrencies tend to drop along with them. Today, that pattern is especially evident. It’s nothing new, but it’s interesting to see how closely the two markets are connected right now.

The situation is somewhat tense in traditional markets, and that’s directly reflected in crypto. Those of us watching the chart see how the price is trying to stabilize, but as long as the U.S. indices remain under pressure, we’ll probably see more downward pressure toward the lower mid-range in Bitcoin as well.