connorp
@c0nnor11
The correlation between Bitcoin and the S&P 500 has hit a two-year high, according to Bloomberg data. This metric has climbed to 0.67—the highest since it went over 0.72 in Q2 of 2022. For those keeping track, the closer this number gets to 1, the more tightly these assets move in sync, and the further from 1, the more they diverge. Meanwhile, Bitcoin has also been testing the 200-day moving average (MA200), which often acts as long-term resistance for the price.
0 reply
0 recast
1 reaction