Bitcoin (BTC) held its ground when the stock market plunged deep into the red yesterday. Both the S&P 500 and Dow Jones Industrial Average registered significant drops. However, Bitcoin (BTC) remained unaffected by it. Today, the stock market registered heavy losses again. This time Bitcoin (BTC) seems to have succumbed to the global market pressure. The decline, shown by the above 4H chart for BTC/USD, was a sharp one. The price nosedived below the triangle and has yet to show any signs of a reversal. Bitcoin (BTC) and the stock market have little in common at this point. The current value of Bitcoin (BTC) is based mainly on the cost of mining one Bitcoin (BTC). However, for the stock market, it is based primarily on speculation. Most big stocks are way overbought at this point.