Has Bitcoin Decoupled From The S&P 500?

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In Brief
  • Since the beginning of the week, Bitcoin has gradually increased while the S&P 500 has tanked.

  • SPX was rejected by its 200-hour MA while BTC is trading above its 200-hour MA

  • This pattern is expected to continue, at least in the short-term.

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Since Monday, the Bitcoin (BTC) price has increased considerably, while the S&P 500 (SPX) has been recording losses. This discrepancy was noted by Bitcoin trader @ZackVoell, who tweeted an image that shows a side-by-side comparison of the Bitcoin price (left) and the SPX (right). In the image, it is clearly visible that BTC has gradually moved upwards, while SPX has decreased
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Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

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