Bitcoin to separate from S&P500 because of the Russia-Ukraine conflict?
ambcrypto.comIf you’re a crypto investor, you may have heard the whispers of how Bitcoin has shown signs of moving in tandem with the S&P500, Nasdaq, or even tech stocks. However, this is still a matter of debate in the industry.
In a recap for the week ending 3 March, Messari Insights proposed that Bitcoin’s green candle on 22 February was a sign that Bitcoin had broken its bonds with the S&P500 index. Messari Insights noted,
“On February 22nd bitcoin seemingly uncoupled from the S&P 500, hinting at the possibility that the Russia–Ukraine conflict has driven demand for the digital gold alternative and subsequently prompted an industry-wide rally.”
This is sure to spark discussion and debate in the crypto community as more analysts have been warning of the consequences for investors if Bitcoin is no longer diverse enough to hedge against risks like inflation and world crises.
In fact, in light of Bitcoin’s drop to below the $40,000 mark, data from Santiment showed that the S&P500 also saw a fall.
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