• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Bitcoin Price Makes History By Crossing $126,000: Options Market Forecasts Next Price Targets
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Bitcoin Price Makes History By Crossing $126,000: Options Market Forecasts Next Price Targets

S&P 500 Just Printed a Textbook Bull Signal: Here’s Why Bitcoin Can Benefit

Nick Chong
by Nick Chong
5 years ago
·
Posted in Bitcoin Price
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure
  • Bitcoin is trading up 0.2% while the S&P 500’s futures are trading down 0.4%, as of this article’s writing.
  • Despite the slight drop, the index remains in a textbook bull pattern primed to end in a strong upwards breakout.
  • BTC may benefit from this breakout in the S&P 500 due to the strong correlation that has formed between the two markets.

Unlike Bitcoin, the S&P 500 is starting its week with a slight move to the downside. As of the time of this article’s writing, the leading U.S. stock index’s futures have printed a -0.4% candle during the pre-market session.

While this is not a move not welcomed by bulls, the index purportedly remains in a textbook bull pattern primed to push stocks higher. This is bullish for Bitcoin due to the correlation that has formed between the markets.

Bitcoin Could See a Strong Rally as S&P 500 Prints Bull Sign

Despite the slight drop seen in the pre-market session, an analyst noted on July 19th that the S&P 500 remains in a macro ascending triangle.

An ascending triangle is often seen as a textbook bull pattern as they often break to the upside. These patterns are formed when an asset sees a series of higher lows but runs into the same resistance high multiple times.

S&P 500
Chart of the S&P 500 from trader Byzantine General (@ByzGeneral), a technician/markets analyst. Chart from TradingView.com

Should the S&P 500 break above the highs of the triangle, it will likely be primed to move to a new all-time high.

Bitcoin is poised to benefit from this potential breakout as it has become increasingly correlated with stocks over recent months. Take Charles Edwards’ tweet below as an example: the digital asset manager’s chart shows that the two markets have traded in tandem on multiple trading sessions over the past four months.

Bitcoin & stock correlation in 2020.

We have (sadly) "re-coupled" as of 10 June. Correlations at all time highs.

Notice the trend?

High levels of fear and uncertainty (eg. VIX) = high levels of correlation. pic.twitter.com/rKPjXpdz73

— Charles Edwards (@caprioleio) June 21, 2020

Should this continue, Bitcoin will break higher as the S&P 500 does.

One trader, in fact, has suggested that should the S&P 500 make a new all-time high in the near future, BTC is likely to cross $10,500 for the first time in around a year.

The Correlation Has a Silver Lining

While some have seen Bitcoin’s correlation with the stock market as a bad signal for adoption and the asset’s narrative, this may not be the case.

Qiao Wang, a prominent cryptocurrency trader,  recently said that the correlation may boost the value proposition of BTC. This may seem counter-intuitive, but let him explain:

“The stock-crypto correlation is the most annoying thing from a portfolio PoV. Diminishes the marginal benefit of owning stocks. Maybe should dump stocks and just hold gold+BTC.”

https://twitter.com/QWQiao/status/1281382318343630848

He added that in a world where there is extremely high inflation, stocks will only make it to a point before their value is decimated.

Featured Image from Deposit Photos
Price tags: xbtusd, btcusd, btcusdt
Charts from TradingView.com
S&P 500 Just Printed a Textbook Bull Signal: Here's Why Bitcoin Can Benefit
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Nick Chong

Nick Chong

Follow

I am a writer who has been following Bitcoin for many years now. My pieces and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Full Profile

Related Posts

Nové bitcoin ATH október 2025

Cena Bitcoinu nad 125 000: BTC dosiahol cez víkend nové historické maximum

3 days ago
Bitcoin vyskočil nad 120 000 $. Odštartoval vládny shutdown v USA nové kryptomenové rally?

Bitcoin vyskočil nad 120 000 $. Odštartoval vládny shutdown v USA nové kryptomenové rally?

6 days ago
Kryptomeny v červených číslach

Bitcoin a ostatné kryptomeny v červených číslach. Je vhodný čas na nákup?

1 week ago
veľryby presúvajú kapitál z BTC na Ethereum

Investori presúvajú svoj kapitál z BTC na Ethereum. Môže z toho ťažiť tento meme coin

1 month ago
Solana ETF fondy

SEC odkladá rozhodnutie o Truth Social, XRP a Solana ETF fondoch na október

1 month ago
Trump zavádza sankcie voči bankám blokujúcim operácie s kryptomenami

Trump zavádza sankcie voči bankám blokujúcim operácie s kryptomenami

2 months ago
Please login to join discussion

Premium Sponsors

Press Releases

  • Maxi Doge นักสู้เหรียญมีมยืนโพสท่าในสังเวียนมวย

    Binance-Peg DOGE นำโด่ง Top 11...

    11 hours ago
  • Find Out Why Whales are Rushing to Buy Bitcoin Hyper’s $22M Presale—Plus, Our $HYPER Price Prediction.

    Find Out Why Whales are Rushing to Buy Bitcoin Hyper’s...

    12 hours ago
  • ...

    1 day ago
  • Your Chance to Win Up to 10% Deposit Bonus and Up to 21K $USDT Bonus Prizes at KCEX

    Your Chance to Win Up to 10% Deposit Bonus and Up to 21K...

    2 days ago
  • 分析師稱 FARTCOIN 有望暴漲...

    2 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.