Is the rising Bitcoin-stock correlation a sign of renewed investor risk appetite? CoinTelegraph reports a different perspective: it signals a growing unease with the dollar's stability. The 30-day correlation coefficient between Bitcoin and the S&P 500 recently surpassed 0.4, a peak not seen since 2020. This surge coincided with the Dollar Index (DXY) plummeting to a 12-month low. While Bitcoin jumped 9% and the S&P 500 rose 6%, investors appear to be diversifying into scarce assets like Bitcoin, potentially hedging against dollar devaluation. Factors supporting this narrative include the BRICS nations push for de-dollarization, increased central bank gold acquisitions, and even sovereign wealth funds exploring Bitcoin investments. These actions suggest a broader movement away from reliance on the dollar. Therefore, the simultaneous rise in Bitcoin and stocks isn't necessarily a "risk-on" signal, but a potential indicator of a declining confidence in the long-term stability of the dollar system. ```

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