“Correlation between S&P 500 and Bitcoin is back close to 1, it seems”Cointelegraph contributor Michaël van de Poppe tweeted the day, linking the crypto world and stock markets.
this day, Wall Street’s main indices fell in a volatile sessionas technology and growth stocks looked for direction amid a surge in bond yields.
Operators maintain that the lower appetite for risk occurs due to concerns about the advance in inflation and aggressive rises in interest rates.
In the short-term projection, analyst Pentoshi predicted that Bitcoin could go as high as $35,000 before entering its next major corrective phaseby being based on movements in the stock market.
Added to the volatility of Bitcoin was the proposal for a regulatory framework for digital assets presented in the United States Senate on June 7.
The 69-page bipartisan bill is supported by Senator Cynthia Lummis of Wyoming and Senator Kirsten Gillibrand of New York and addresses the CFTC’s authority over applicable digital asset spot markets.
Source: Ambito
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