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Bloomberg ETF Analyst: Bitcoin is not a leading indicator for the stock market
Golden Finance reports that Bloomberg senior ETF analyst Eric Balchunas has released research findings indicating that Bitcoin is not a leading indicator for the stock market. The data shows that after months of Bitcoin falling, the stock market still exhibits positive performance 62% of the time. Balchunas also points out that the S&P 500 index ($SPY) performs strongly, remaining stable even during months when both Bitcoin and stocks are falling.