The correlation between #Bitcoin and #S&P500 reached zero after peaking at 0.76 in May 2022.

Historically, blockchain assets represented by #Bitcoin had little connection to traditional risk assets such as stocks.

The previous peak of 0.76 is believed to have been caused by the actions of large highly leveraged centralized crypto assets such as #FTX . The excessive use of debt has brought dependence on interest rates to the#cryptomarket.

However, the market was temporarily cleared of over-borrowers, and with the recent change in interest rate policy, the correlation returned to "normal".