Very interesting because this graph is proving that S&P500 and Bitcoin are almost negatively correlated (-0.7), which means that when one goes up the other goes down and vice-versa.
Ah, no, that is just casuality that my mouse pointer was at a point with negative correlation 
There were definitely such phases, but since 2020 the correlation most of the time was positive. The last value was actually 0.8462. I have changed the image of the post above to reflect that.
I honestly don't see actual correlation here, specially when we have these.
2x rise from 2015 to 2016 <=> a small drop in S&P500
a big crash from 2018 to 2019 <=> a small rise in S&P500
a big rise from 2019 to 2020 <=> a small drop in S&P500
Yes, but post-2020 there is a substantial correlation. See the graph above.2x rise from 2015 to 2016 <=> a small drop in S&P500
a big crash from 2018 to 2019 <=> a small rise in S&P500
a big rise from 2019 to 2020 <=> a small drop in S&P500
I mean the bitcoin price multiplied by 400 in that period while the S&P only like by 2.55 and they are supposed to be highly correlated?
Bitcoin generally exaggerates the S&P movements, but since 2020, it more often (not always) moves in the same direction.I think the current situation is quite novel because there was no such exaggeration, when Bitcoin "only" lost approximately as much as the S&P 500, at least its swings are currently in the same order of magnitude.