Bitcoin's Correlation with Stocks Raises Concerns as Whales Maintain Positions
Bloomberg Intelligence warns Bitcoin is increasingly acting as a 'stock-market puppet' amid rising correlation with U.S. equities.
Bloomberg Intelligence warns Bitcoin is increasingly acting as a 'stock-market puppet' amid rising correlation with U.S. equities. Bitcoin (BTC) is trading at $81,553.00, down 0.5% since this brief published. This is an original Token Times brief based on reporting by ZyCrypto, with live market data added, as of Wed, 14 Oct 2026 18:30:01 UTC.
The growing correlation between Bitcoin and traditional markets undermines its narrative as a non-correlated asset, potentially impacting its safe-haven appeal and investment thesis.
- Bitcoin's correlation with U.S. equities is increasing, raising concerns about its independence.
- Bloomberg strategist Mike McGlone maintains a bearish outlook on Bitcoin.
- Market cap remains above $1.6T despite recent price decline.
Bitcoin's correlation with traditional financial markets has become a growing concern among analysts. Bloomberg Intelligence's senior commodity strategist, Mike McGlone, has described Bitcoin as increasingly acting as a 'stock-market puppet,' citing its strong correlation with U.S. equities and its tendency to experience more pronounced price swings.
In an interview with Wealthion on October 1, McGlone expressed skepticism about Bitcoin's performance, maintaining a bearish outlook. This view is supported by recent market data showing Bitcoin's price declining by 1.49% over the past 24 hours and 1.81% over the past week.
Additional insights from Crypto Economy highlight concerns about financing strategies involving STRC preferred shares, which have added an estimated $725 million to annual dividend obligations. This figure, equivalent to approximately 8,740 BTC, suggests potential financial pressures that could influence Bitcoin's market dynamics.
Despite these concerns, Bitcoin's market cap remains substantial at $1.65 trillion. The broader cryptocurrency market, however, is experiencing a downturn with a total market cap of $2.83 trillion.
The Fear & Greed Index currently stands at 62, indicating a state of 'Greed,' which suggests that while some investors remain optimistic, there is a growing awareness of the risks associated with Bitcoin's increasing correlation to traditional markets.
Since this brief published about 2 hours ago, Bitcoin (BTC) has moved from $81,964.00 to $81,553.00 — -0.50%.
The chart plots BTC's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
Will Bitcoin dip to $80,000 on October 14?
Crowd-implied probability on Polymarket, $68.49K 24h volume, resolves Oct 15 — snapshotted when this brief published (Oct 14 17:05 UTC). A market price reflects what traders collectively expect; it is not a forecast by Token Times and will have moved since. View the market ↗
At today's peer-to-peer rate, 1 BTC ≈ ₹8.52M (about $81,553.00), down 1.8% over 24 hours. The rupee itself trades about 9.5% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Bitcoin's Correlation with Stocks Raises Concerns as Wha — questions & answers
What is Bitcoin's current correlation with the stock market?
Bitcoin is increasingly correlated with U.S. equities, raising concerns about its independence as an asset.
Why is Bitcoin considered a 'stock-market puppet'?
The term reflects Bitcoin's growing correlation with traditional markets and its tendency for sharper price swings.
How much has the STRC financing strategy impacted Bitcoin?
The strategy has added $725 million to annual dividend obligations, equivalent to about 8,740 BTC.
How much is 1 Bitcoin worth in rupee today?
About ₹8.52M at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $81,553.00. The rupee price moves with both BTC's US-dollar price and the USDT/INR rate; use our Bitcoin in rupee page for any amount.
Has Bitcoin's price moved since this brief was published?
BTC is down 0.50% since this brief first published — trading at $81,553.00 now versus $81,964.00 at publication. Token Times re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from ZyCrypto. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.