Bitcoin’s rising correlation with stocks is less about investor exuberance and more about eroding trust in the dollar. The real story is not a newfound appetite for risk — it’s a flight from the perceived fragility of the US dollar.
Opinion by: Vugar Usi Zade, chief operating officer of Bitget
Bitcoin’s price has started to sway with the S&P 500, and a chorus of commentators says this proves crypto has “grown up” and joined the ranks of typical risk assets. That reading misses the deeper melody.
The real story is not about investors chasing excitement when both markets lurch in the same direction. It is about eroding faith in the money that prices everything and, by extension, in the policies that govern it.
