Deep Tide TechFlow News, on January 8, according to CoinDesk, data shows that the correlation between Bitcoin and the S&P 500 index has risen to 0.88, indicating a synchronization between the two markets once again, marking a shift from the previous divergence trend (since Trump's election, Bitcoin has risen 47%, while the S&P 500 index has only risen 4%).
Bitwise's Head of European Research Andre Dragosch attributes the re-emerging correlation to macroeconomic factors, including the revised interest rate cut forecasts from the Federal Reserve and the strengthening dollar, which continue to exert pressure on both cryptocurrencies and traditional markets. Despite Bitcoin having strong on-chain support, its movement is increasingly influenced by broader market trends, indicating potential short-term risks in the future.
