Bitcoin’s price action may be weak, but not the same can be said about the stock market.
Ahead of Monday’s open, the futures of the S&P 500, Dow Jones, and other American indices are up by over 1.5%. But it’s an even more impressive site in Asia, especially China, where the stock market is hitting an all-time high.
Analysts say that strength in the stock market, especially China’s, could set a bullish precedent for Bitcoin and crypto.
Bitcoin Could Boom as China Stock Index Rips to New Highs
The FTSE’s China A50 index has surged over 6% higher during Monday’s trading session. With this latest move higher, the index is at an all-time high.
As crypto finance company Amber Group recently remarked in reference to the chart below “FTSE China A50 Index at new ATHs, surpassing 2015 mania levels.”
FTSE China A50 Index hitting new all-time…
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