Bitcoin’s Correlation to US Stocks Hits 20-month Lows - Here’s Why That’s Bullish for BTC

In 2021 and 2022, Bitcoin was largely viewed as a speculative technology/asset that ought to trade according to liquidity conditions, much like a tech stock.

Bitcoin is up over 40% from earlier monthly lows under $20,000 as investors look for alternative, “harder” currencies/mediums of exchange, with the cryptocurrency rallying in tandem with gold prices.

It’s a highly robust, incorruptible, decentralized peer-to-peer payments system that offers a real, fairer and transparent alternative to the existing financial system.

That’s a big reversal from mid-2022, when Bitcoin and stocks were largely moving in lockstep and the 30-day correlation briefly surpassed 0.7.

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