Especially during the fall on March 12, Bitcoin had almost the same graph with the S&P 500 index. It was less than expected for Bitcoin to increase in the next few weeks, when the index rose, and when it fell.
Bitcoin and S&P 500 Relationship
Although S&P 500 experienced a decrease in early April, BTC was considered to have started to move independently from the price line since then. Despite this, the S&P 500, which achieved a slight increase compared to the press time, also activated Bitcoin again.
BTC, which fell from $ 7,000 to $ 6,700 last week, has a 2% increase compared to the press time and started to push $ 7,000 again. The fact that the S&P 500 has also risen at the same hours is an indication that analysts are acting together again rather than a coincidence.
The main reason for this is that the majority of institutional investors buying Bitcoin are based in the USA. US institutional investors may be increasing their Bitcoin purchases, which are seen as a risky investment as the markets stabilize a little and increase is achieved.
This reveals that similar rises and decreases may be seen with the S&P 500 in the coming days.
