Recent discussions among analysts highlight the strong correlation between Bitcoin and the S&P 500, suggesting that Bitcoin's performance remains closely tied to U.S. equity markets. Over the past nine years, Bitcoin has consistently moved in tandem with stocks, exhibiting a higher beta compared to traditional equities. Analysts are questioning whether this trend will persist, particularly as the market approaches potential bear conditions similar to those seen in 2022. Some experts suggest that Bitcoin may be on a path toward decorrelation from tech equities, indicating a shift in its volatility and liquidity dynamics. Observations also note that Bitcoin's price action has become more aligned with macro assets since 2017, with comparisons drawn to Nvidia's recovery post-COVID. The ongoing debate centers around whether Bitcoin will continue to behave like other risk assets or revert to its historical inverse relationship with the dollar.