4 days ago
Bitcoin (CRYPTO: BTC) is back above $66,000 on renewed ETF inflows, with on-chain data suggesting the asset may have meaningful upside if correlations normalize.
BTC Has Room To Grow
Bitcoin has historically traded in close alignment with the S&P 500, typically rising during periods of low interest rates and economic strength, such as 2021 and 2024, and falling during risk-off environments like 2018 and 2022.
Data from Santiment show that in November 2022, aggressive rate hikes and the collapse of FTX pushed Bitcoin down to $15,700, significantly underperforming equities at the time.
Over the past six months, however, that correlation has weakened. ...
