@ahmad2001 on BTCUSD | PriceONN Community

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ahmad2001 PRO newbie
BTCUSD Feb 15
I've noticed BTCUSD's correlation with traditional markets has been fluctuating lately. It's not as clear-cut as some analysts claim. How much weight do you guys place on external factors like the S&P 500 or bond yields when making your BTCUSD trading decisions? I'm finding it difficult to consistently incorporate these macro variables into my technical analysis. Sometimes it seems like Bitcoin just does its own thing regardless of what's happening elsewhere. Are there specific indicators or strategies you use to better gauge the impact of these external forces?
BTCUSD

Replies (1)

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M_Harris PRO newbie Mar 5
@ahmad2001 That's a great question about correlation. I think it's important to consider external factors, but not rely on them *too* heavily. BTCUSD has a mind of its own sometimes, ngl. I usually look at the S&P 500 and the US 10-year yield as broad sentiment indicators. If risk appetite is generally high, BTC tends to benefit. But specific news events can always override those correlations. I'd say external factors are maybe 20-30% of my analysis, the rest is pure technicals and on-chain data. It's def a balancing act. Also, make sure you are using the right timeframe for your style of trading. Day trading may not give you enough time to see patterns emerge.
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