Bitcoin risks 50% drop as BTC's positive correlation with US stocks grows
Burns Brief
Bitcoin’s 20-week rolling correlation with the S&P 500 has turned positive, a signal that has historically preceded major BTC price declines The news has rattled market participants, with bears looking to push prices lower while bulls attempt to defend key support levels. Watch $BTC for reaction — a decisive move above or below key levels will confirm the next trend.
Bitcoin’s 20-week rolling correlation with the S&P 500 has turned positive, a signal that has historically preceded major BTC price declines.
Key Takeaways
- Bitcoin’s 20-week rolling correlation with the S&P 500 has turned positive, a signal that has historically preceded major BTC price declines