Bitcoin starting to be negatively correlated to the S&P 500 after quite some time

Bitcoin-starting-to-be-negatively-correlated-to-the-SP-500-after-quite-some-time

Bitcoin is showing a negative correlation to the S&P 500. It has been some time since we have seen that.

The last time it was significantly negative was around the FTX crash in November.

Then it was mostly bitcoin pulling away to the downside; recently, it has been more to the upside.

But today, Bitcoin is down while the S&P 500 is slightly up. It will be interesting to see how long the negative correlation lasts and whether it will predominantly be to the upside or not.

Note: The time period used to calculate the correlation is 20 days.