Odaily Planet Daily News The correlation between Bitcoin (BTC) and the S&P 500 (SPX) fell to 0.05, indicating market differentiation. Over the past five years, the two have been highly positively correlated during the pandemic and between late 2021 and 2022. Both are rising significantly in early 2024. However, while the SPX continues to hit new highs, BTC hovers around $60,000, occasionally falling below this level. BTC and SPX have been negatively correlated four times since 2019, each time indicating local lows for Bitcoin prices.