Bitcoin's Correlation with S&P 500 Index Reaches 0.8, Highest Since 2020

The correlation coefficient between Bitcoin and the S&P 500 index has reached 0.8 over the past 30 trading days in the U.S. stock market, marking the highest level since 2020. This correlation has been below this level for the majority of the time, indicating that the relationship between Bitcoin and the stock market rarely reaches such a close degree. Despite discussions about Bitcoin's relative strength in the market, macroeconomic factors continue to dominate the overall trend.

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