Putting Bitcoin’s close relationship with S&P500 to test- Here’s the outcome - Aliens: AI Crypto News & Markets Updates
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Putting Bitcoin’s close relationship with S&P500 to test- Here’s the outcome

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AMB Crypto

Tue, May 24, 2022

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Aliens TLDR

If equities continue upward, though, expect good things for crypto.” The previous data showed that Bitcoin has continued to become increasingly tied to the U.S. stock market.

Interestingly, the BTC-Nasdaq correlation grew to a new ATH of over 0.8 as per the weekly report from Arcane Research.

Consider the chart below that showed the trend in the Bitcoin 30-day correlation with Nasdaq, S&P 500, DXY, and Gold over the past couple of years.

Bitcoin mirrored the stock market throughout this year as the correlation surged up in recent months.

The growing institutionalization of Bitcoin might be behind the increasing correlation with the stock market.

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