4 Signs of a Trillion-Dollar Sea Change in Bitcoin Valuations

Bitcoin’s price cruised to a historical record high price level of around almost $123K earlier this week.

Over the past 30 days, the asset is up by about 13%, at the time of this writing. Meanwhile, the comparable 30-day window posted 4.73% gains for the most popular US stock index.

In other words, Bitcoin gained what the S&P 500 Index averages in a typical year in under one week while the stock market stalled. Moreover, for the month’s trades, BTC delivered returns on investment at nearly 3x the pace of stocks.

With both Bitcoin and US stocks trading at historic record highs, the 30D BTC Pearson correlation to the S&P 500 climbed from slightly inverse at the start of July to a 72% positive correlation by 7/11.