X @Santiment

Market Correlation - Bitcoin and S&P 500 have shown consistent correlation since early 2022, influenced by monetary policy and geopolitical events [1] - S&P 500's resilience signals investor risk appetite, positively impacting crypto, while sharp stock declines lead to Bitcoin declines [2] Bitcoin Performance & Potential - Bitcoin underperformed S&P 500 in the past week, dipping -12.2% and nearing sub-$100K levels, suggesting oversold conditions [3] - Extreme crypto volatility often results in a "rubber-band" effect, potentially leading to a significant bounce-back after selling pressure eases [3] - If S&P 500 stabilizes or rises, Bitcoin's larger drawdown creates more upside potential for a relief rally [4] - Decoupling of Bitcoin and S&P 500 may present an opportunity for traders awaiting positive momentum in stock markets [4]