Bitcoin vs S&P 500: Who's Lying?

٢٧ سبتمبر ٢٠٢٢

There is a narrative that the cryptocurrency market anticipates the traditional market; that is, that it anticipates tops and bottoms, reversals and the beginning of trends.
It would be like the canary that enters the ore cave to see if there is toxic gas.

As the canary is an extremely air-sensitive bird, if the bird comes back alive, it means the cave is a safe place to explore.
Otherwise it's a dangerous place.

Comparing the BTC chart at the top with the SPX futures chart at the bottom, we have a divergence as ES1! is testing the support of June 18th, while Bitcoin has yet to arrive in that region.

From this perspective, Bitcoin would be behaving like a canary, anticipating the market, indicating the end of the bear market, or is this just a lag in the price, or simply a trap, coming to test the bottom of June 18 in $17,600?