Is the plunge in US stocks bad news for Bitcoin?

In the past two years, the correlation between Bitcoin and US stocks has become smaller and smaller, especially in the banking sector, which is almost negatively correlated. For example, a series of banks in the United States collapsed last year. In order to avoid risks, many institutions and retail investors bought Bitcoin, gold and other safe-haven assets to hedge. Therefore, as long as a large number of banks in the United States collapse, it is good for Bitcoin.

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