Chart of the Week: Wall Street Has Claimed Bitcoin—Now What?
2025-07-06 13:24:09

Main Idea
Bitcoin's correlation with U.S. equities remains high, while its relationship with gold and the USD is negligible, challenging its reputation as a hedge asset.
Key Points
1. Bitcoin's correlation with the S&P 500 is currently at 0.48, near the higher end of its historical range.
2. The article highlights that bitcoin no longer behaves as an uncorrelated asset, contrary to its earlier anti-establishment reputation.
3. NYDIG Research notes that bitcoin's 'digital gold' moniker is under pressure due to its strong ties with U.S. equities.
4. The persistent correlation with U.S. equities suggests bitcoin's performance is increasingly influenced by traditional financial markets.
5. The article references historical events, such as the European debt crisis, to contrast bitcoin's past behavior with its current market dynamics.
Description
"Wall Street is coming for bitcoin." That phrase used to spark both hope and fear across crypto circles. Today, it's no longer a future threat or a bullish promise—it's just reality. The original premise of bitcoin (or crypto in general)—an asset that is censorship-resistant and doesn't answer to any traditional financial institution or government—is fading fast as Wall Street giants (as well as powerful political figures) continue to establish their strong foothold in the digital assets space. ...
Latest News
- Bitcoin's 'Mempool' Nearly Empty as Prices Trade Near Lifetime Highs2025-07-06 14:30:32
- Chart of the Week: Wall Street Has Claimed Bitcoin—Now What?2025-07-06 13:24:09
- Ethereum Touted as ‘Foundational Layer for Global Finance’ by Firm With $500M ETH Bet2025-07-05 22:25:03
- U.S. Exceptionalism Is Alive and Well as Nasdaq Outperforms Global Peers: Macro Markets2025-07-05 18:18:30
- Bitcoin Cash Rally Accelerates on Whale Activity and Bullish Technical Signals2025-07-05 18:18:14