S&P 500 / BTC Correlation
How much BTC moves together with the US stock market.
BTC vs S&P 500 correlation is dynamic. 2017-19: low (~0.1) - BTC independent. 2020-22: high (0.6-0.8) - BTC acts like a risk-on tech stock. 2023-24: dropped to 0.3 thanks to ETF and BTC-specific catalysts (halving). High correlation = crypto loses diversification value. Low = BTC behaves as digital gold. Current 30-day ~0.4.
In plain words
Measures: when US stocks rise, does BTC also rise? Sometimes yes (0.8), sometimes barely (0.1).
Example
March 2020: BTC vs S&P500 correlation 0.87, both -35% in a week. October 2024: correlation 0.31, BTC +30%, S&P +5%.
Also known as: correlation, stocks correlation