Bitcoin (BTC) Stock Market Correlation: The U.S. stock market had in recent times maintained a direct correlation with the Bitcoin (BTC) price. At times when the stock price rallied aggressively, BTC price jumped in a comparatively lower range. In this context, key movements in the S&P 500 Index could potentially mean an impact on crypto prices in the near future. On the other side, the crypto market is yet to recover from the unprecedented bloodbath due to the FTX collapse.
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Bitcoin (BTC) Price Drop Soon?
While the current crypto prices are slightly better compared to November 2022 Bitcoin low of $15,700, there is a along way before full recovery. At the current levels, the S&P 500 Index (SPX) is below trendline resistance. Market experts suggest that the Index has generally maintained the trendline resistance. However, if there is a deviation this time around, it could have an adverse impact on BTC pr
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