Since June 24, 2020, the markets have been choppy, with rising coronavirus cases in several US states, along with a potential second wave in China. The S&P 500 lost 5.89%, while the Dow was down 6.9%.
Bitcoin/USD traders are also experiencing volatility. On June 24, BTC dropped below $9,000, only to rise back to $9,300 on June 25. Recent emotions in the crypto market have been slightly bearish. Since early May, BTC price has seen a lot of rejection near the $10K level. Although investors have bought into every price dip, there is a fear that prices could again drop below the $8,500 mark, if the equity markets fall.
BTC price has been showing an increased correlation with S&P 500, which is being considered the actual cause of this price volatility.