In this episode of NewsBTC’s daily technical analysis videos, we compare Bitcoin price with the S&P 500, WTI Crude Oil, Gold, and the almighty dollar through the DXY. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): October 4, 2022 Bitcoin price is back over $20,000 and you can finally feel the sentiment starting to change. The change is happening all across the rest of finance, and not just crypto, which is the focal point of this video. Related Reading: Is Bitcoin ‘Uptober’ About To Begin? | BTCUSD Analysis October 3, 2022 Stock Market Correlation With Crypto Continues To start, comparing the S&P 500 against Bitcoin, shows that Bitcoin tends to top out prior to the stock market. Importantly, BTC and the SPX have been more tightly correlated than in the past. This is notable because along with Bitcoin, US stock indices have turned sharply up. Both asset classes are down considerably from all-time highs, so this is nothing yet to celebrate. Bitcoin tops well ahead of the SPX | Source: BTCUSD on TradingView.com Oil Slips Slightly After BTC, But Turning Up Sharply In yet another macro comparison with WTI Crude Oil, we can see that oil tends to trail crypto and stocks slightly. Oil prices tend to fall even more sharply than crypto during corrections, but are fewer and further between. Oil prices are also turning up sharply at the same time as Bitcoin and the stock market....
