Shiba Inu and three other tokens – Solana’s SOL, Polygon’s Matic and Compound’s COMP – were all listed for the first time on Robinhood’s platform.
Bitcoin had dropped Monday to below $40,000 for the first time in more than three weeks.
Bitcoin “is still consolidating in a triangle pattern stretching back to mid-January”, said Jeffrey Halley, senior market analyst at Oanda.
Crypto’s correlation with US tech stocks has risen sharply in the past few weeks, suggesting investors increasingly view digital assets as vulnerable to tightening monetary conditions.
Noelle Acheson, head of market insights at Genesis Global Trading, said there are two big narratives at play for Bitcoin: one is that the coin is a risk asset and it’s going to move in tandem with other riskier assets.