Data shows while Bitcoin has been correlated with the US stock market for some time now, the two haven’t moved in tandem recently.
Bitcoin Correlation With US Stocks May Be Weakening As BTC Has Been Moving Differently
As pointed out by an analyst in a CryptoQuant post, BTC has gone down in the past week while stocks have made some gains.
A “correlation” between two assets (or markets) exists when both their prices follow the same general trend over a period of time.
For Bitcoin, there has been a strong correlation with the US stock market during the last couple of years or so. The reason behind the markets becoming so tied is the rise of institutional investors in the crypto.
Such investors view BTC