Тhe correlation of Bitcoin with the S&P 500 index declined

A recent report by Arcane Research said that the correlation rate of Bitcoin with the stock market markedly fell. Experts note that the panic due to the spread of coronavirus and a sudden supply shock led to uncertainty in the financial markets.

Because of this, world indices plummeted. Bitcoin, which is still perceived by most as a risky asset, was no exception. As a result, the correlation of “digital gold” with the S&P 500 index reached the highest rate in history - 0.584.