Data shows the Bitcoin correlation with the stock market has been high in recent months as the crypto has been closely following S&P 500 and NASDAQ.
Bitcoin Has Continued To Mimic Movements Of The US Stock Market In 2022
As per the latest weekly report from Arcane Research, while BTC has been more volatile than the stock market, the crypto’s movements have still been pretty close to the latter.
In the year 2022 so far, both the stock market and Bitcoin have found it hard. However, year-to-date, BTC is down 51% while S&P is 14% and NASDAQ 22% into the red, much less than BTC’s losses.