Bloomberg: Bitcoin could fall to $10,000 in a 20% S&P 500 correction
- —BTC stalled at $76,746 and failed to break the psychological $80,000 level
- —Fed rate futures price in about 70 basis points of further hikes
- —Over five years, BTC returns are comparable to the S&P 500, but volatility is 3 times higher
- —The S&P 500 is significantly above its 200-week moving average
Why it matters: High correlation with equities means a Wall Street correction could amplify a crypto market decline.
Source: Blockmedia