Summary
- It was reported that the 30-day correlation coefficient between Bitcoin and the S&P 500 remains above 70%, indicating that decoupling is not complete.
- It was analyzed that a bearish stock market is likely to increase downward pressure on Bitcoin.
- Bitcoin is emphasized as emerging as a strategic asset through monetary policy and institutional positioning.
It has been analyzed that Bitcoin (BTC) is not completely decoupled from the traditional financial market.
On the 27th (local time), cryptocurrency specialist media Cointelegraph reported, "Over the past four weeks, the 30-day correlation coefficient between Bitcoin and the S&P 500 has remained above 70%. Therefore, if the stock market enters a bearish phase, Bitcoin is also likely to face downward pressure," adding, "The macroeconomic trends and correlations with traditional assets are still valid, but Bitcoin is increasingly being recognized as a strategic asset beyond speculation."
Furthermore, it explained, "As the adoption by major companies and institutional investors expands, it may diverge to some extent from the stock market," adding, "While the stock market remains sensitive to macroeconomic indicators and performance, Bitcoin's upward momentum is based on its expanding role as a hedge against monetary policy, institutional positioning, and systemic risk."
Meanwhile, Bitcoin is trading at $109,674.38, up 0.65% from the previous day, as of 04:37 on the 28th in the Binance Tether (USDT) market.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
