Bitcoin’s Market Moves Still Mirror Stocks, VanEck Says

That price spike gave bulls hope. Could Bitcoin finally act as a hedge like gold? VanEck analysts say—not yet.The surge didn’t last. Within weeks, the link between Bitcoin and equities tightened again. The 30-day correlation with the S&P 500 returned to 0.55. That means Bitcoin still tracks traditional assets more often than not.Risk Asset Label Still SticksVanEck’s team points to a simple truth. BTC remains a risk asset in the eyes of the market. It reacts to news. It follows investor mood. It moves alongside tech stocks more than opposite them.Traders looking for a pure safe haven might be disappointed. Bitcoin hasn’t shaken its equity-market shadow. The report warns not to mistake short-term moves for structural change. .dark-mode .read-more {background-color: #343a40 !important;} READ MORE: Bernstein Predicts $330 Billion Corporate Bitcoin Allocation in Next 5 Years Bitcoin Outpaces Stocks but Tracks the TrendEven with its tight correlation, Bitcoin still outperformed the broader market in April. That outperformance doesn’t equal independence, though. The asset’s volatility cuts both ways. Big gains often come with big risks.Institutional interest remains strong. Many see value in Bitcoin’s long-term upside. But VanEck’s research says not to expect gold-like behavior—at least not yet.The post Bitcoin’s Market Moves Still Mirror Stocks, VanEck Says appeared first on Coindoo.