📊 Bitcoin and the equity market have often been highly correlated during this cycle.
❌ The correlation between these asset classes has frequently been quite strong, but that is clearly not the case at the moment.
While the S&P 500 and the Nasdaq are trading very close to their latest all-time highs, within a broadly bullish trend, BTC continues to correct.
After a drawdown of roughly 36%, Bitcoin’s uptrend is struggling to resume, creating a clear gap versus equities.
👉 Since the beginning of the year, the correlation between BTC, the S&P, and the Nasdaq has never been this low. Many are likely expecting BTC to “catch up,” which is possible, but it is not a given.
This could also suggest that BTC remains a distinct asset, one that does not yet follow the same rules as traditional equities.
BTC
88,619.86
-1.74%