I’ve examined this question before, more recently when we had the large dumps of BTC happening alongside those beautiful and schadenfreude-laden crashes in the U.S. stock market. But it will, in my opinion, be the primary question on our minds as we approach the next halvening and the world capitalist market continues to look grim. Mainly, is there a correlation between BTC and the stock market?

The importance of this question has to do with the essential character of Bitcoin itself, mainly, as a store of value, reserve currency akin to a digital gold, independent from nation-state fiat and thus, a potential safe haven for those looking to exit either inflating fiat currency or crashing stock markets. If BTC is not independent of these things, then I would argue it does not meet its intended goal and should be seen as a failure.

That is to say, as we continue moving into this insane decade, full of pandemics, stock market crashes and negative oil prices, we will see whether BTC can stand on its own feet, fulfilling its purpose bestowed upon it. BTC could be the chosen one, ridding the galaxy of the Sith (protecting our asses as economies go up in flames) or it, too, could catch a financial plague and die on a deathbed of scams and failed, bloated tech.

This is why one recent post caught my eye.

Blockchain Center published the results of one study, looking for potential correlations of Gold, BTC and stock markets. It concluded that gold has no correlation to stock markets, as it acts enough on its own as an independent asset. As for BTC? There was not enough data to say, but since the outbreak of COVID19, the authors argue there is an increase in correlation between BTC and stock indices.

The study also reported findings that those of us familiar with crypto markets have known for a long time. Mainly, that all crypto is correlated to the movements of Great King Bitcoin. This is one reason that posts, which you often find on this site and others, about “Muh 5 Altcoin Picks” are meaningless. BTC is what matters, as the death of the king signals the death of all, and the rise of the king brings in waters to which all ships float on. All altcoins can be successful, depending on the success of BTC.

Authors should just come out and say "I'm holding this bag, I think it will do good." 

Example: I bought into SUTER. I think it will do well.

Below are the graphs taken from the above referenced study. Go there and check it out for yourself.