Data shows while Bitcoin has been correlated with the US stock market for some time now, the two haven’t moved in tandem recently.
Bitcoin Correlation With US Stocks May Be Weakening As BTC Has Been Moving Differently
As pointed out by an analyst in a CryptoQuant post, BTC has gone down in the past week while stocks have made some gains.
A “correlation” between two assets (or markets) exists when both their prices follow the same general trend over a period of time.
For Bitcoin, there has been a strong correlation with the US stock market during the last couple of years or so. The reason behind the markets becoming so tied is the rise of institutional investors in the crypto.
Such investors view BTC as a risk asset and pull out of the coin as soon as there is macro uncertainty looming over the market (hence driving the crypto’s price down along with the stocks).
Here is a chart that shows the prices of Bitcoin, S&P 500, and NASDAQ over the last few years:
Looks like the as
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