Bitcoin Shares Strong Correlation With US Stock Index Amid Bearish Sentiment

Azeez Mustapha


Unlock Daily Forex Signals

Select a Plan


1 - month



3 - month



6 - month






Separate Swing Trading Group



Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored

Service for copy trading. Our Algo automatically opens and closes trades.


The L2T Algo provides highly profitable signals with minimal risk.


24/7 cryptocurrency trading. While you sleep, we trade.


10 minute setup with substantial advantages. The manual is provided with the purchase.


79% Success rate. Our outcomes will excite you.


Up to 70 trades per month. There are more than 5 pairs available.


Monthly subscriptions begin at £58.

Reports show that Bitcoin (BTC) has shared a remarkable correlation with the stock market for about over a month now. Bitcoin currently trades around the $46,000 area, down by about 8% over the last seven days. 

This price decline comes amid several positive factors in the industry. Just last week, El Salvador officially kicked off its Bitcoin Law, which would see the benchmark cryptocurrency serve as a legal tender. Also, BTC network hash power has reclaimed significant heights since the expulsion of miners from China. 

Additionally, huge amounts of institutional investors continue to pour into the BTC market. 

However, the price of the primary cryptocurrency continues to plummet despite the numerous positive blockchain fundamentals. Analysts have suggested that this bearish bias emanates from the recent BTC correction with the stock market. 

According to a charting exercise by Cryptopotato, clear correlations of gains and losses are observed in the superimposition of BTC and the S&P 500 Index. Granted, BTC displays a more dramatic volatility curve, but the correlation in price action is glaring. Additionally, when superimposed with the Dow Jones Industrial Average, NASDAQ Composite, and UK100 or FTSE 100 Index, the correlation becomes even more obvious. 

That said, Bitcoin’s correlation to top stock indexes indicates that the crypto asset has matured significantly as an investment vehicle. 

Key Bitcoin Levels to Watch — September 12

Bitcoin has recorded a slow-down from its recent crash last Tuesday around the $45,000 area. That said, the cryptocurrency has now entered the $46,500 – $46,000 pivot area as bulls record minor gains in the early hours of Sunday. 

BTCUSD – 4-Hour Chart

However, our 200 and 50 SMAs paint a troubling picture for bulls as a bearish death cross appears to be in the making. BTC needs to record a bullish jump to the $48,000 area over the coming days to disrupt the previously mentioned technical factor.

Meanwhile, our resistance levels are at $47,000, $48,000, and $49,000, and our key support levels are at $45,400, $45,000, and $44,400.

Total Market Capitalization: $2.13 trillion

Bitcoin Market Capitalization: $865 billion

Bitcoin Dominance: 40.7%

Market Rank: #1


You can purchase crypto coins here: Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *