Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com

BITCOIN SELLOFF HAS BEEN ORDERLY, COULD FALL FURTHER

Recent weakness in bitcoin has been orderly and has not reflected panic, which may mean that there is further room to fall before a better buying opportunity emerges, according to Brian Reynolds, chief market strategist at Reynolds Strategy.

Reynolds notes that bitcoin’s 90-day volatility has recently risen above that of oil and Apple AAPL.O and is now on par with that of Tesla TSLA.O. But it is below what was seen during the selloff in 2022 and 2023.

“Though there is more leverage in Bitcoin now than there was 3-4 years ago, there has been less panic around this decline,” Reynolds said in a report. And, “that dynamic informs us that there may be a cohort of investors, especially among the levered institutional entities, who may become forced sellers if there is another leg down.”

Reynolds expects that a further decline to around two standard deviations below its trend along with an upward move in volatility above its early 2023 level would be a better buying opportunity in the cryptocurrency.

Bitcoin BTC= is at $66,590 on Wednesday, down from a record high of $126,223 reached in October.

(Karen Brettell)

*****

EARLIER ON LIVE MARKETS:

SMALL CAPS FACE UPHILL BATTLE AFTER RECENT STRONG RUN CLICK HERE

JOBS REPORT DEEP-DIVE: DAMN THE REVISIONS, FULL SPEED AHEAD CLICK HERE

US STOCKS GIVE UP INITIAL GAINS, TURN RED, AS RATE CUT BETS TAKE A HIT CLICK HERE

US STOCK FUTURES RALLY, YIELDS JUMP, AFTER HOT JOBS DATA CLICK HERE

IS IT TOO LATE TO ENTER KOREA AI MEMORY TRADE? CLICK HERE

STOXX 600 DRAGGED LOWER AS WEALTH ADVISORS SINK, EARNINGS MIXED BAG CLICK HERE

BEFORE THE BELL: EUROPEAN FUTURES MIXED, LSEG EYED, LOTS OF EARNINGS CLICK HERE

YEN ROARS BACK AS US CONSUMER ENGINE SPUTTERS CLICK HERE