Stifel strategist: Bitcoin's peak does not bode well for US stocks

Stifel Nicolaus&Co. stated that investors lost interest in cryptocurrencies after Bitcoin hit a new high last month, which more broadly indicates that the frenzy for risky assets and the US stock market is fading. The team led by Barry Bannister, the company's chief stock strategist, said that the peak of Bitcoin indicates a weakening of the stock market.