Bitget App
Trade smarter
Bitcoin and S&P 500 Correlation Plummets, May Indicate Potential Bottom
Bitget2024/07/03 21:46
The correlation between Bitcoin (BTC) and the SP 500 (SPX) has fallen to 0.05, indicating market divergence. Over the past five years, the two have been highly positively correlated during the epidemic and between the end of 2021 and 2022. both rose significantly in early 2024. However, while the SPX continues to hit new highs, BTC hovers around $60,000, occasionally dropping below that level. Since 2019, BTC and SPX have been negatively correlated four times, each time indicative of a localized low in Bitcoin's price.
0
0
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!
You may also like
Trending news
MoreCrypto prices
More
Bitcoin
BTC
$90,472.56
-1.08%
Ethereum
ETH
$3,029.04
+0.27%
Tether USDt
USDT
$1
+0.03%
XRP
XRP
$2.16
-2.10%
BNB
BNB
$879.99
-1.47%
USDC
USDC
$0.9998
-0.01%
Solana
SOL
$136.29
-3.84%
TRON
TRX
$0.2807
+0.31%
Dogecoin
DOGE
$0.1486
-2.97%
Cardano
ADA
$0.4164
-3.70%
How to buy BTC
Bitget lists BTC – Buy or sell BTC quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now