I see there is a strong correlation between SPY and Bitcoin prices. BTC has a higher beta, however. Whenever SPY tanks, BTC tanks twiiiiiice as hard, (as it was the first time, I said good byeeee)
In March, BTC dropped from $10k to $5k. I am calling for another BitCoin wipeout when the market crashes.
If we will just see the prices of both the stock market (S&P) and Bitcoin, they really have a correlation between its price movement.
Although I agree that when stock market crashes Bitcoin will crash twice as hard, I also believe that when the recovery time comes Bitcoin will recover twice as much.
We saw it already last March when the pandemic has been announced by WHO. All of the markets are down, Stock markets and crypto market are down but if you will see how much they recover since at that time Bitcoin recovered near thrice as its previous price last March so yes Bitcoin will crash twice as hard when the stock market is down maybe but it will recover twice too.