Bitcoin And Ethereum Are Hanging By A Thread — Here’s The Trade

It’s been a rough stretch for cryptocurrencies like ethereum and bitcoin.

These are the two largest cryptocurrencies by market cap and they have not had an easy run as of late.

Bitcoin is working on its fifth straight daily loss, while ethereum is working on its fifth weekly loss in six weeks.

While US stocks were able to hit new all-time highs over the last week — with the exception of the Nasdaq — bitcoin and ethereum have been under intense selling pressure.

Like tech stocks, bitcoin and ethereum did not take kindly to the Fed’s hawkish stance on Wednesday.