Study: BTC Will Depend on US Stock Market in 2023

Bitcoin, which has recently retreated along with US stock indices, fell sharply last week after the decision of the Fed to increase the rate.

According to a study conducted by Arcane Research, the correlation between Bitcoin and the US stock market remained high, and it is likely to continue next year.

The company analysts have noted that the dependence of the largest crypto by market capitalization on the Nasdaq and S&P 500 indices increased even more after the publication of data on consumer prices in the United States.

If at the beginning of last week BTC added value along with the shares of the technology sector and reached $18,400, then on Friday it fell below $17,000. This week, BTC is consolidating along with the rest of the risky assets.