Market Cap
$1.51T
24h Volume
$31.86B
Dominance
58.0%
How Bitcoin fits into the macro picture
Bitcoin's -2.55% decline contrasted with equity strength as the Dow hit all-time highs, highlighting risk-asset rotation under new Fed leadership. The 0.48 correlation with S&P 500 over 90 days shows Bitcoin still trading as risk-beta despite monetary premium narratives. Kevin Warsh's hawkish reputation and bond market pricing of rate hikes create headwinds for long-duration assets like Bitcoin through higher real yields.
BTC's 90-day correlation with S&P 500 remains elevated at 0.48 while gold correlation sits at 0.14, indicating continued risk-asset classification.
| Asset | 24h | YTD | BTC Edge |
|---|---|---|---|
| SPX | +0.37% | +7.70% | -23.96% |
| QQQ | +0.42% | +15.38% | -31.64% |
| XAU | -0.70% | -4.31% |
Kevin Warsh was sworn in as Fed chairman in a White House ceremony Friday, with bond traders pricing zero chance of rate cuts in 2026 despite Trump's preference for lower rates. This marks a hawkish shift in monetary leadership that historically pressures long-duration assets like Bitcoin through higher real yields.
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| -11.95% |
| DXY | +0.06% | +2.40% | -18.66% |
| ETH | -2.94% | -15.56% | -0.70% |
| SOL | -2.71% | -19.95% | +3.68% |
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