Bitcoin Nears ATH, Chiliz Goes Parabolic, Nasdaq Continues To Lag Dow

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Last Updated on 23 March 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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An out of sync image in worldwide stock and crypto markets. Bitcoin is nearing its all-time-high of $58,000 while the rest of the top 10 sees a small selloff. Chiliz (CHZ) witnesses a parabolic climb and FTX is ready to sponsor a NBA team.

Over in US stock markets, the Nasdaq entered its fourth week of lagging the industry-heavy Dow Jones. Investors are confused to say the least.

Advertentie.

Bitcoin nears all time high

Just a few weeks after mass media celebrated Bitcoin having its worst week in a year (when crypto saw a 20% correction), the best known cryptocurrency was ready to reach its all-time-high of $58,000 again. At the time of writing, Bitcoin is trading at $57,300.

Over in the broader altcoin market, the performance of fan token provider Chiliz stands out.

The coin usually related to football team support is getting ready to break out and has risen a whopping 95% today, 600% in the past week. It comes after Parisian football team PSG saw increased demand for fan tokens.

By now, Chiliz is ranked at spot 18 on Coinmarketcap.

Nasdaq and Dow Jones

Over in stock markets, investors continued to see a selloff in tech and an entry into stocks that will do well when the economy reopens.

In fact, the tech-heavy Nasdaq Composite is now lagging behind the Dow Jones Industrial Average for four weeks straight. That rarely happens.

Jack Ablin, who manages a cool $12.5 billion working as chief investment officer at Cresset, nailed the explanation I believe as to why airlines, grocery stores and brick and mortar shops are seeing their stocks rise. Ablin explained:

There’s pent-up demand for actually going out and doing stuff, taking vacations, going to bars and restaurants. People are going to take all that money on the sidelines and spend it.

FTX enters NBA

Lastly, if reports in the Miami Herald are correct, then the FTX exchange of Sam Bankman-Fried is ready to become the sponsor of the local NBA team, the Miami Heat.

The NBA thus becomes a crypto hotspot as of late after billionaire Mark Cuban announced recently that you could purchase tickets for his own Dallas Mavericks NBA team while paying for them in Dogecoin.

Angelika / Depositphotos.com