K33 Research BTCs 30Day Correlation with US Stock Market Reaches Highest Level Since 2022

In its market update on Tuesday, K33 Research pointed out that Bitcoin may experience volatility on Wednesday as it has recently been “highly sensitive” to economic data, with its 30-day correlation with the US stock market reaching the highest level since 2022. K33 analysts stated, “The macroeconomic situation is chaotic on Wednesday, with May CPI data and the Fed rate decision both expected to impact the market.”