Bitwise Research Director: The correlation between Bitcoin and the S&P 500 index has rebounded, and the two are once again in sync

2025-01-08 12:37:02

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ChainCatcher news indicates that the correlation between Bitcoin and the S&P 500 index has risen to 0.88, suggesting a renewed synchronization between the two markets. This marks a shift from the previous divergence trend (since Trump's election, Bitcoin has risen by 47%, while the S&P 500 index has only increased by 4%).

Bitwise's Head of Research for Europe, Andre Dragosch, attributes the re-emerging correlation to macroeconomic factors, including the Federal Reserve's revised interest rate cut forecasts and the strengthening dollar, which continue to exert pressure on both cryptocurrency and traditional markets. Despite Bitcoin having strong on-chain support, its movements are increasingly influenced by broader market trends, indicating potential short-term risks ahead.

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