Dow Futures. Source: TradingViewAs seen on the chart, Dow Futures are down almost 1 percent on the day, showcasing the uncertainty of traditional investors.
Pressure On All Fronts
It’s not just the US markets that are feeling the pressure of the growing international trade tension. Today, the UK’s Prime Minister, Boris Johnson, prompted the Queen to suspend the country’s parliament in a move that many believe will push a no-deal on the matter of Brexit.
This put immediate pressure on the GBP which lost upwards of 0.5% in a violent swing following the news.
GBP/EUR. Source: TradingView
Bitcoin Remains Relatively Stable
Amid this global economic uncertainty, Bitcoin remains somewhat relatively stable. The price has been trading in the range of $10,150 – $10,500 for the past seven days. As a matter of fact, Bitcoin has increased by around 1.5% during the last week.
In addition, Bitcoin has also seen its dominance index increased slightly over the past seven days as it currently stands at 69% of the entire market cap.
As Cryptopotato reported, $10,000 is a critical level to watch because it has proven to be a proven historical support level. Should the price drop below it, however, we may as well expect a notable move to the downside.
