Bitcoin recovery stalls as global stock markets take a battering Crypto at a glance Bitcoin’s recovery from last week’s losses has stalled again, with the leading cryptocurrency dropping back down to $47,000 after regaining the $50,000 level. The stutter comes as the traditional stocks and bonds markets in general took a hammering yesterday, prompted by US Federal Reserve Chair Jerome Powell’s acknowledgement that he “would be concerned” by the impact of rising US government-bond yields on borrowing costs. During the early stages of the COVID pandemic last year, there was a strong correlation between Bitcoin and traditional markets – are we seeing a re-emergence of this trend?