Golden Finance reported that Andre Dragosch, Bitwise’s head of European research, said that Bitcoin and the S&P 500 began to diverge after the election of Donald Trump, but the two asset classes have recently begun to move more in sync. Bitcoin and the S&P 500 have once again begun to correlate closely, with their correlation reaching 0.88 at the latest 20-day moving average (0 indicating no correlation, 1 indicating absolute correlation). Dragosch concluded: “While on-chain factors are likely to provide significant impetus until at least mid-2025, a deterioration in the macro situation could also pose short-term risks to Bitcoin, especially given its correlation with the S&P 500. Sex is still relatively high.”