According to Cryptoslate, the correlation between Bitcoin (BTC) and the S&P 500 Index (SPX) has dropped to 0.05 on the 20-day moving average. Although SPX hit a new high, breaking through 5514 points, BTC hovered around $60,000. Since 2019, BTC and SPX have been negatively correlated four times, which often indicates a local low in Bitcoin prices.
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BTC's correlation with the S&P 500 index has dropped to 0.05, which may indicate a local low in Bitcoin prices
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BTC
67,213.99
-0.27%
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