Bitcoin wasn't invited to the party

<p>The waiting game continues for a bitcoin ETF and it appears as though some bulls are losing patience, or taking profits. Bitcoin is down 3.7% today, or $1348 to $35,040 in the second day of selling. </p><p>There have been several false reports of bitcoin ETFs and an approval appears to be only a matter of time.</p><p>What's driving the move today? Market participants may be cycling money into equities instead as the Nasdaq surges 2.3% and NVDA gains for the tenth consecutive day.</p><p>To be sure, bitcoin has plenty of altitude to give back before any real red flags as it only retreats to last week's levels.</p><p>It's a strange move for bitcoin to be doing so poor as it's usually highly correlated with the Nasdaq. That's a divergence worth watching and there could be stops on a break of $35,000.</p>

This article was written by Adam Button at www.forexlive.com.