Bitcoin's recent price surge is drawing attention to its correlation with traditional stocks. A recent study found that the cryptocurrency's price is closely tied to the S&P 500 index, with a correlation coefficient of 0.7. This suggests that Bitcoin's value is being influenced by broader market trends. Could this be a sign of increased adoption and mainstream recognition for cryptocurrency?

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This correlation is a natural consequence of institutional investment flowing into crypto, which is largely driven by broader market trends. As more traditional investors enter the space, we can expect to see increased price volatility tied to overall market sentiment.