“There is no major negative fundamental catalyst that we can see,” Dorman said. “These kinds of big movements are common after SPACs because the entire investor base turns over from fixed-income-oriented SPAC buyers to new, fundamentally driven long-term equity owners.”SPAC merger tickers are often volatile in their early days of trading. These vehicles raise money first and seek an acquisition later, allowing a private company to reach the public market by merging with the shell. But once the deal closes, the investor base often turns over, with SPAC arbitrage investors and redemption-focused holders giving way to public-equity investors weighing the…

Bitcoin (BTC) circled $63,000 after Tuesday’s Wall Street open as chip companies led a dip in US stocks.Key points:Bitcoin attempts to hold $63,000 after seeing its highest levels in two weeks.US stock markets see a correction on the day SpaceX joins the Nasdaq-100.Bollinger Bands creator John Bollinger continues to eye a long-term BTC price reversal.BTC price comes off two-week highs as US stocks fallData from TradingView showed BTC price action cooling after a trip to $64,660 — its highest point since June 22.BTC/USD one-day chart. Source: Cointelegraph/TradingViewBTC/USD surfed a comedown in US equities, with the S&P 500 and Nasdaq 100…

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