Good morning☀️

#Bitcoin and US stock markets started the new week with a positive beginning.

Last night, S&P 500 and Nasdaq had a positive opening. Since the correlation of $BTC with US stock markets is very high, it rose simultaneously.

In recent months, the price has been progressing almost identically. Therefore, to understand the direction of Bitcoin, we need to first understand the direction of the US stock markets.

For example, after 03:30 last night, while US stock markets were rising, BTC was moving sideways. Due to the high correlation, BTC could not move sideways any longer and started to rise by following the US stock markets.

When we look at the chart, you can clearly see that the price has progressed in exactly the same way and that Bitcoin has followed the US stock markets.

Sometimes, when crypto data is positive, the price drops, or when the data is negative, the price rises, and this situation is the cause of that.

Even if the data is negative, the whales that start buying upon seeing the S&P 500 rising cause the price to increase, or even if the data on the crypto side is positive, the whales that see the S&P 500 falling sell, which causes Bitcoin to drop.

That's why closely following the US stock markets is extremely important. Throughout the week, I will frequently share analysis and data, friends.

I wish everyone a beautiful week and plenty of profits.