Stocks are swinging wildly as investors panic about Fed policy, geopolitics, and company earnings.

"The correlation between bitcoin and high-growth benchmark ARKK still stands at ~60% year-to-date," Fairlead's Katie Stockton said in a Friday note.

A confirmed breakdown below $37,361 would set the stage for bitcoin to test secondary support around $30,000, Stockton said.

Ethereum tumbled to below $3,000 as confidence evaporated from the cryptocurrency market Friday.

Bond yields have risen sharply this year so far, whacking crypto prices and speculative tech stocks. Mike Novogratz said the trend is set to continue.

The slide in tech stocks also looks set to resume Tuesday, as investors bet on aggressive Fed tightening and oil's rally spurs inflation fears.

"The mass marketing of bitcoin reminds us of the activity of stockbrokers in the run-up to the 1929 crash," Invesco's Paul Jackson said.

A deep and drawn-out crypto crash of the sort seen in 2018 is a growing possibility, analysts at investment bank UBS have warned.

US inflation soared to a 39-year high of 7% in December, data showed on Wednesday, but stocks were unfazed.

Led by President Nayib Bukele, El Salvador has bought at least 1,391 bitcoins using public funds, according to a Bloomberg estimate.

But bitcoin is notoriously volatile, and previous moving-average crossovers have also led to several head fakes.

Only just 5% of the bank's clients expect bitcoin to hit the $100,000 mark. Bitcoin dipped below $40,000 Monday to its lowest since September.

Bitcoin has tumbled 11% since the start of the year, and sits roughly 40% below its record high of $69,000 reached in November.

"Bitcoin looks oversold in the short-term," DailyFX said. "A confirmed break below $39,600 would likely trigger further selling down to $37,500."

More than 25 cryptocurrencies with a value of at least $1 billion have erased 10% or more in market cap over the past week.

The Fed could pull back its support even faster than expected, spelling trouble for risky assets like bitcoin.

A sustained decline below $44,200 would put bitcoin's next support level of $37,400 in play, according to Katie Stockton of Fairlead Strategies.

Bitcoin's market share will likely rise as more institutions turn their eye towards digital assets, Goldman Sachs predicted.

"I think bitcoin as an inflation hedge in the minds of many of the younger investors has replaced gold," the Wharton professor told CNBC.

The crypto-loving president also projected two more countries will adopt bitcoin as legal tender, though he did not specify which.

The S&P 500 edged higher to clinch its 70th record for 2021 while the Dow Jones Industrial Average also edged up to mark its sixth consecutive win.

Bitcoin "remains solidly in a long-term uptrend... and our long-term gauges still point higher despite having down-ticked this month," Stockton said.

Cryptocurrencies are rising across the board, shaping up for a "Santa Claus rally" to close the year on a high note.

He's never sold any of his tokens, and in general, he doesn't "believe you should sell your bitcoin," The Information reported.

Worries over the Omicron variant has injected volatility into markets, as investors have reacted to each new data point or announcement.

"If initial support is broken, important long-term support will likely be tested, near $37.0K," Fairlead Strategies' Katie Stockton said.

Bitcoin and big tech stocks such as Apple have had an "amazing run" this year and "nothing's cheap," said billionaire bitcoin bull Mike Novogratz.

"Bitcoin price appreciation blew home price increases out of the water," according to Point2, a real estate platform.

"Institutional managers have to look at new asset classes that are evolving, that have low correlations, that's the key to diversification."

The Omicron variant has rocked stock markets, but investors are upbeat after reports that symptoms are mild.

Crypto markets cratered Saturday as a sell-off was worsened by huge amounts of leverage in the system.

Virtual land deals on ethereum's network and Facebook's metaverse commitment have helped drive up ether's price up in November.

"We expect bitcoin to confirm a breakout above $64,900 in its next upmove, which would then target a long-term measured move of $89,900."

"What is more disappointing is that the stalling in bitcoin fund inflows in November took place as physical gold ETFs continued to bleed."

Investors may be taking heart from weekend developments, including signs that Omicron symptoms are mild so far.

Jerome Powell may now be freer to raise interest rates, which would hurt risky assets like bitcoin, Mike Novogratz said.

Stocks have remained buoyant on the back of strong earnings and economic optimism. But crypto has taken a hit in recent days.

"Short-term oversold conditions are within reach for bitcoin ... so we would look for [the] pullback to mature later this week," Katie Stockton said.

Stocks remain around records highs despite inflation soaring, in part because the bond market is so unattractive.

The SEC said a proposed rule change to list VanEck's ETF doesn't satisfy concerns about the potential for fraud and manipulation.

"From July 20 to October 8, the dominant factors affecting bitcoin were market exuberance and fear of inflation," Bloomberg economists said.

The price of the bitcoin rose to an intraday high of $69,000 Wednesday, reflecting a 4.6% gain following the release of CPI data.

Assets hovered at record highs even after the Fed said that "asset prices may be vulnerable to significant declines."

The digital asset platform also said institutional clients can choose the Bakkt Warehouse for custody of ether.

Futures signal more gains ahead for the tech-heavy Nasdaq after the Federal Reserve cut back on its bond purchases, as widely expected.

There is "little doubt" that bitcoin's competition with gold as a portfolio asset will continue, JPMorgan said.

"Contango in the BTC futures curve can impose a drag on performance for these funds due to the futures carry cost," JPMorgan explained.

Cryptocurrencies and bitcoin have "early adoptive technologies," like big tech companies, the founder and managing partner of SkyBridge Capital said.

The auction's minimum required bid was 42,400 euros ($49,197), while bitcoin on Monday traded above $63,000.

Binance CEO Changpeng Zhao tweeted: "Expect very high volatility in #crypto over the next few months."

Pimco has already dipped its toe into digital assets via investments in crypto-linked securities, its CIO Daniel Ivascyn told CNBC.

If bitcoin manages to see consecutive daily closes above former resistance at $65,000, Stockton believes the cryptocurrency will target $89,800.

The bitcoin ETF eclipsed the prior record holder, the SPDR Gold Shares ETF, which hit $1 billion in assets in three days when it launched in 2004.

According to Tesla's accountants, the company's bitcoin fell in value during the third quarter, despite the price jumping.

"The perception of bitcoin as a better inflation hedge than gold is the main reason for the current upswing," JPMorgan said.

The VanEck Bitcoin Strategy ETF will begin trading under the ticker XBTF after October 23, the asset management firm said in a regulatory filing.

The cryptocurrency market is the "most honest market we have in the country," the venture capitalist Peter Thiel said, according to The Information.

"Your first block reward? Block 705742 was mined about 3 hours ago, around the same time the tweet was tweeted," one Twitter user speculated.

With bitcoin block rewards at $10 million per day, the equilibrium between supply and demand will not be balanced unless bitcoin's price moves higher.

Bitcoin was trading around its highest since April ahead of the long-awaited market debut of the first futures ETF later on Tuesday.

Morgan Creek Capital chief Mark Yusko noted that bitcoin tumbled as much as 17% to around $44,000 after El Salvador adopted it as legal tender.

Bitcoin rose as much as 5.5% on Monday to $62,667, according to Bloomberg data. ProShares said its bitcoin futures ETF will start trading Tuesday.

Some optimism returned to stock markets at the end of the week, as earnings season picked up pace.

"This is actually is a pretty sustainable move and it's not a bubble that's about to burst," Jurrien Timmer said.

Dimon's comments were made the same day bitcoin surged to a five-month high above $57,000, taking its year-to-date gains to 96%.

Elsewhere, the dogecoin spinoff shiba inu rallied 19% on Monday, gaining 265% from a week ago, while other altcoins saw general downturns.

While Dimon doesn't believe in the value of bitcoin, the cryptocurrency has recently surged to a valuation of $1.1 trillion.

The same DeMARK counter-trend signal flashed in January right before bitcoin fell about 25% from $40,000 to $30,000.

Wyoming Republican Sen. Cynthia Lummis bought bitcoin following a slide in the price, an SEC filing showed Thursday.

Stock market investors were waiting for nonfarm payrolls data, which could give the Fed the green light to start tapering asset purchases.

"The re-emergence of inflation concerns among investors has renewed interest in the usage of bitcoin as an inflation hedge," JPMorgan said.

Bitcoin last sported a $1 trillion market valuation on May 10, according to data from CoinMarketCap.

Stock market investors are worrying about soaring energy prices pushing up inflation, among a host of other concerns.

"We expect short-term overbought conditions to be weathered long enough for a test of minor resistance near $52,900," Stockton said.

Traders have a renewed interest in bitcoin, the world's biggest cryptocurrency, an executive at the Kraken exchange said.

US whistleblower Edward Snowden believes China's recent ban on cryptocurrency-related transactions and mining has only helped bitcoin.

Bitcoin's Friday surge helped the cryptocurrency reclaim its widely followed 50-day and 200-day moving averages.

El Salvador's President Nayib Bukele said the first bitcoin had been mined in the Central American country, powered by energy from volcanos.

"Any near-term selling is an opportunity to buy as we anticipate a risk-on environment through the end of the year," Fundstrat said.

Investment in bitcoin hit its highest in four months in the week to September 24, when China announced it would ban most crypto activities.

The top cyptocurrencies currently held by the hamster include Tron, Ripple's XRP, cardano's ada, and ether.

"A banning of crypto possession probably would have sent everything crypto 20% lower," an analyst said.

"We've also seen this before from China ... but it has not prevented adoption of bitcoin and digital assets from continuing their upward trend," a trader said.

China's hostility towards crypto stretches back to 2013, when the country banned banks from handling bitcoin transactions.

Bitcoin's recovery from even the steepest fall is like South Park character Kenny's ability to return to life, Morgan Stanley's Dennis Lynch said.

Cryptocurrency-asset broker Voyager said 85% of respondents to its sentiment survey believe bitcoin is now in a bull market.

Mike Novogratz said investors are still very interested in crypto and that he's not nervous about the recent sell-off.

Bitcoin mining will only contribute to 0.9% of global carbon emissions even if the coin's price were to hit a mind-boggling $10 trillion by 2030.

Once the current pullback in bitcoin matures, Katie Stockton expects the recent peak near $53,000 to serve as a "minor hurdle to all-time-highs."

Pyth, a price-data platform used by some of Wall Street's crypto and finance leaders, showed a plunge of about 90% for bitcoin to $5,402 on Monday.

Stock market investors were keeping one eye on Evergrande and one eye on the Federal Reserve, which sets monetary policy on Wednesday.

Bitcoin advocates often call the cryptocurrency "digital gold", but it didn't behave like it as stocks cratered on Evergrande debt default fears.

There was a strong "buy-the-dip" impulse after the Evergrande crisis sent stocks tumbling, strategists said.

Action in stocks was muted as investors waited for the release of US consumer-price inflation data that could influence the Fed's decision making.

US stock futures rose as investors looked ahead to Tuesday's CPI inflation data for August.

"While potential returns may be greater for ETH than for BTC, risks are also higher," StanChart's cryptocurrency research team said.

"The long-term outlook remains bullish, supported by an upward sloping 200-day moving average," technical analyst Katie Stockton said.

Analysts said cryptocurrency investors had "bought the rumor, sold the fact" as El Salvador made bitcoin legal tender.

"This was a little air being popped out of the balloon," crypto billionaire Mike Novogratz said of Tuesday's bitcoin crash.

"We're aware transactions are currently delayed or cancelled at elevated rates and our apps may be experiencing errors," Coinbase tweeted.