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The sentiment helped the U. Sebastien Galy, a strategist at Nordea Asset Management, noted the recent pullbacks would do little in harming the prevailing global market rally. A spike in virus cases in China and the U. The U. It was trading a little above Meanwhile, it topped near Play Now! The sentiment rippled across the European markets.

In Frankfurt, the benchmark Dax dived 2.

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Global stocks plunged in sync on rising demand for cash. Source: FT Futures tied to the U. Meanwhile, spot gold slipped by 1.

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Bitcoin A downside move across the macro assets put Bitcoin, an offbeat investment asset, in the same bearish trajectory Monday. The cryptocurrency plunged by 2.

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Bitcoin price chart on TradingView. Source: TradingView. The latest move, however, took Bitcoin below the support of its Ascending Triangle.

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Breaking below the pattern typically leads an asset lower by as much as the height of the triangle. On a brighter note, one Wall Street veteran bitcoin brighter trade that the global market rebound is merely a technical correction.

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Sebastien Galy, a strategist at Nordea Asset Management, told FT that investors would reenter the market on the next dip.