Bitcoin Snaps Correlation With S&P 500: What Does That Indicate?

Category: Cryptocurrency

Bitcoin's correlation with the S&P 500 has seemingly ended as Bitcoin rallies while the S&P 500 declines. Factors such as U.S. government considerations on chip exports to China and Trump's remarks on Bitcoin's potential as a strategic reserve have contributed to this shift. Investors may start viewing Bitcoin as a new safe-haven asset, while Ethereum's future status remains uncertain despite potential ETF inflows.

Keywords: Bitcoin, S&P 500, cryptocurrency market

Source: Investing.com

Update At: 7/22/2024

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