Bitcoin and Stocks Drop; Analysts See Risk of Further Downside

Bitcoin and Stocks Drop; Analysts See Risk of Further Downside

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For much of its short history, bitcoin has been uncorrelated to traditional markets, which served as a desirable quality for recession-conscious investors. However, according to data from Coin Metrics, bitcoin’s correlation to U.S. equities, specifically the S&P 500, has strengthened since March 2020.

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