I follow the markets often, and I thought about that yesterday. The problem is that it is a very short term oscillation. It could stay the same. But bitcoin didn't always follow the market and it doesn't have to continue to do so in the future. In fact, I think it will be detached from the stock market at some point definitely in the future.

The thing is that the market has been assimilating bitcoin to a financial asset for some time now. Volatile, and high risk, but just another financial asset. It is not conceived as an asset with unique properties, which is what would make it detach from indexes like the S&P 500.

This is what I'm getting from the chart
- bitcoin is hardly affected by the upcoming US Presidential election
- Stock Market swings as the election comes near.

I think the only indicator that's working for stocks now are Trump's tweets.

the thing is that bitcoin has never followed any other markets ever. just because there are handful of coincidences that make the two charts look similar on occasions isn't enough proof of "following" the other market.
the fact is that from the start of the market a decade ago, bitcoin market has been a unique and a stand alone beast of a market that moves on its own.

Well guess what mate, the fact is, there is a correlation between how bitcoin and the stock market moves. This isn't even my opinion or "analysis", I'm just presenting factual data that's freely accessible by anyone lol. 🤷‍♂️

The US stock market is being hit hard by who will continue to be the next president in the upcoming election. Both businesses and investors are preparing their own capital allocation plans. They are cautious at this time, so US stocks are showing signs of hesitation and decline.
Bitcoin is completely different, Bitcoin has liquidity around the world and is affected by many different factors, according to technical analysis Bitcoin is easier to value.
All the above is just my guess, every market has uncertainties and it is difficult to know exactly.

I think this isn't a break up (yet). More like Bitcoin got a bit fed up and is off on a wild weekend for "me time" while letting stocks just go off and get over their hangover.

Thing is, investors invest, and Bitcoin's just in addition to stocks et all. Across all class of assets we have the same sentiment wave, in general. When people feel happy and confident in the economy (aka stocks), they're happy and confident to dip into Bitcoin.

That's the one that needs decoupling first for this price correlation to cease.

I like that take. The price movements of both platforms are not necessarily a "breakup", but more of like a "cool off" when talking about relationships lmao, and will pretty much just come back together after a short while.

It moves on its own, yeah I believe the same. It is simply following it's own trend. It has it's own marketers, investors, no controlling authority. I never connected the dots between other markets and bitcoin market for this reason.

I mean if we started to match the graphs between two different markets (randomly) then there is probability that some of them will directly collide with the bitcoin.

Isn't it is but obvious? What S&P500 makes the difference anyway? Also, we are forgetting that one is controlled market while another is completely based on unpredicted volatility. So yeah they may not be the same.

Basically and according to theory everything in this world is related together. But, since bitcoin market is decentralized and not same as the traditional stock market this not be related to us stock market. However, I saw many reactions by bitcoin price to s&p500. Usually. whenever I want to do TA on bitcoin price I count bitcoin as an independent asset. What I can see from the chart above on OP post is, recently due to the US presidential election bitcoin price also got effected for a little bit.

The thing is you're completely wrong about this as always and anybody with two honest eyeballs can see the obviously creeping correlation between the two. If you don't trust your eyes there are a number of ways to mathematically measure correlation, which I've already done several times and you've already dismissed several times.

Being in firm denial of something does not render it nonexistent.

For the thousandth time: the more highly invested Wall Street is in bitcoin, the stronger the correlation between market movements become. I honestly don't know how you can still deny this reality given what happened in March when the stock market and bitcoin crashed side-by-side.