Bitcoin (BTC) hit new weekly lows into Sept. 28 as risk asset drawdown continued overnight.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD falling to $18,461 on Bitstamp, down almost $2,000 versus the previous day’s high.
The change of direction came in lockstep with stocks, which turned red after initially heading marginally higher at the Wall Street open.
The S&P 500 and Nasdaq Composite Index ultimately finished the day down 0.25% and up 0.25%, respectively.
Crypto, however, failed to recoup its losses, and while hopes were for Q4 to bring about a more solid recovery, traders were betting on the pain continuing first.
Popular Twitter account Il Capo of Crypto appeared to confirm that he favored October copying last year’s performance — something which earned it the nickname “Uptober.”
In comments, he added that he was “expecting bullish Q4. But first new lows.”