In this short video analysis, we highlight the correlation between traditional asset Risk-On cycles and their impact on Bitcoin. Every historical BTCUSD bull run's start has coincided with a SPY significant Fibonacci level breach and retest. This past month the SPY has breached the long term 2.618 fib level and is seemingly headed towards the 3.618, with no significant retest as of yet.
What will Bitcoin do? Will we get an SPY retest? Is the correlation over?
These are the top 3 questions that only the market can answer.