Market Cap
$1.27T
24h Volume
$30.03B
Dominance
56.4%
How Bitcoin fits into the macro picture
Bitcoin's 0.47 correlation with the S&P 500 over 90 days reflects continued risk-asset classification despite attempts at monetary premium positioning. With inflation readings mixed and tech stocks under pressure, Bitcoin faces headwinds from both monetary policy uncertainty and risk-off sentiment. The dollar's relative stability (-0.07% today) provides no meaningful tailwind for Bitcoin's dollar-denominated flows.
Bitcoin gained 1.04% relative to the S&P 500 today but remains deeply underperforming year-to-date with -35.88% relative returns, indicating persistent risk-asset classification.
| Asset | 24h | YTD | BTC Edge |
|---|---|---|---|
| SPX | +1.75% | +6.56% | -35.88% |
| QQQ | +3.29% | +15.24% | -44.56% |
| XAU | +2.70% | -10.37% |
Corporate Bitcoin purchases have fallen from $500 million per day to nearly zero, compounding the ETF outflow pressure. This demand-side collapse spans beyond public ETF flows to private corporate treasuries, indicating broad institutional retreat from Bitcoin accumulation strategies across both public and private channels.
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| -18.94% |
| DXY | -0.07% | +2.88% | -32.20% |
| ETH | +1.65% | -31.76% | +2.45% |
| SOL | +4.86% | -36.75% | +7.43% |
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