Odaily Planet Daily reported that data shows that the correlation between #Bitcoin and the S&P 500 has risen to 0.88, indicating that the two markets are back in sync, marking a reversal of the trend prior to the divergence (since Trump was elected, Bitcoin is up 47%, while the S&P 500 is up just 4%).

Andre Dragosch, Head of Research for #Bitwise Europe, attributes the re-emerging correlation to macroeconomic factors, including revised forecasts for Federal Reserve interest rate cuts and a strengthening dollar, which continue to put pressure on both cryptocurrency and traditional markets.

While Bitcoin has strong on-chain support, its price movements are increasingly influenced by broader market trends, suggesting potential short-term risks.

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