Why Has Bitcoin Become A Leading Indicator For The S&P 500?

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Yesterday, there was complete and utter carnage across the global financial market. Bitcoin fell over 10% by the daily close and breached below $10,000 at one point before bouncing. The stock market also saw the largest single-day loss since June. But why did Bitcoin suddenly lead the stock market almost tick for tick on price charts before the S&P 500 followed? Are these bots turning bearish after crypto began to collapse, or is something else at play? Whatever the dynamics are behind it, the correlation is uncanny. Did Bitcoin Kick-Off Yesterday’s Stock Market Blood Bath? Bitcoin has had a stellar 2020 alongside the rest of the crypto market, stocks, and precious metals. The one negative spot across these markets took place on Black Thursday, but every major market other than the Dow Jones was able to set new yearly highs recently. Bitcoin broke above $10,000, and the S&P 500 and…

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