Does SPX lead BTC or the other way around ?
The BTC and SPX correlation has been going on for a while. I have been spending time on studying BTC correlations as the market classification of BTC seems to keep changing, as of lately it seems that it is shifting from a risk-class asset to a store-of-value asset "this shift will probably take some more time", the reasoning here is that populations from emerging markets are using it as such whether we agree or not "alongside stablecoins, but the UST fiasco scare people of".
Back to the original topic. In the chart attached, I can see BTC hitting swings before SPX does "forget about FTX meltdown", from that it seems that BTC does lead SPX and not the other way around. My reasoning is that the same traders are acting upon BTC 24/7 with no holidays/weekend breaks and as such it shows the market sentiment before it appears on SPX charts that are bound to regular operating hours. What do you think ?
Like the post for further updates.
Back to the original topic. In the chart attached, I can see BTC hitting swings before SPX does "forget about FTX meltdown", from that it seems that BTC does lead SPX and not the other way around. My reasoning is that the same traders are acting upon BTC 24/7 with no holidays/weekend breaks and as such it shows the market sentiment before it appears on SPX charts that are bound to regular operating hours. What do you think ?
Like the post for further updates.
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