Today, the S&P 500 hit a new all-time high, while Bitcoin experienced a drop of over 2%.

This situation was anticipated weeks ago, when we pointed out that Bitcoin had lost its bullish correlation with the Nasdaq.

As a result, it now only replicates the declines of the New York indices.

In our post number 10, we mentioned this fact as one of the more than 21 elements that contribute to the bearish narrative.

Once the stock market corrects, Bitcoin is likely to suffer a considerable drop.

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