CoinVoice has recently learned that data shows the correlation between Bitcoin and the S&P 500 index has risen to 0.88, indicating a synchronization between the two markets once again. This marks a shift from the previous divergence trend between the two (since Trump's election, Bitcoin has risen by 47%, while the S&P 500 index has only increased by 4%).

Bitwise's Head of Research for Europe, Andre Dragosch, attributes the re-emerging correlation to macroeconomic factors, including the Federal Reserve's revised interest rate cut predictions and the strengthening of the dollar, which continue to exert pressure on both cryptocurrency and traditional markets. Despite Bitcoin having strong on-chain support, its movements are increasingly influenced by broader market trends, suggesting potential short-term risks ahead. [Original link]