glassnode: Bitcoin-S&P 500 Correlation Coefficient Reaches 0.8, a High Since 2020

November 7 — glassnode posted that the correlation between Bitcoin and the stock market rarely reaches such a tight level. Over the past 30 U.S. stock trading days, the correlation coefficient between Bitcoin and the S&P 500 reached 0.8. Since 2020, this correlation coefficient has been far below that level for the vast majority of the time. Although the market occasionally talks about Bitcoin's relative strength, for now macro factors still determine the overall trend.