BTC vs 
VIX and 
SPX vs VIX the inverse correlation of VIX to SPX is no secret, and applying VIX onto a BTC chart shows how much BTC is more and more correlated to the SnP, this is a good tool to have in any traders arsenal. The beauty of VIX is that it is based on expiring index options, which makes it relatively accurate in estimating volatility. I think SPX and BTC correlation will increase especially this year as the markets will become more and more liquidity strapped. For extra info
a- The Cboe Volatility Index, or VIX, is a real-time market index representing the market’s expectations for volatility over the coming 30 days.
b- Investors use the VIX to measure the level of risk, fear, or stress in the market when making investment decisions.
c- Traders can also trade the VIX using a variety of options and exchange-traded products, or they can use VIX values to price derivatives.
d- The VIX generally rises when stocks fall, and declines when stocks rise.
Source: investopedia.com/terms/v/vix.asp
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.