Trading on the US stock market ended with the fall of the S&P 500 index.

This indicator of business activity following the auction on Thursday, June 11, lost about 5% and dropped to 3,000 points. The outflow of capital from the market intensified in the second half of the session.

It was at this time that Bitcoin fell by almost $ 1,000 on major crypto exchanges. The coin fell to $ 9007. However, there was no further drop, and BTC was able to stay above $ 9000, which many analysts took as a positive signal.

On Friday night, bitcoin has grown a bit, now it is trading at around $ 9,300. Experts attribute the sharp drop in the value of the coin precisely to the negative trend that dominates during trading in the USA.

Once again, the correlation between the BTC and the S&P 500 affected the trading performance . The drop in value occurred after long positions in the amount of more than $ 65 million were liquidated on the BitMEX exchange in two hours. At this point, bitcoin fell from $ 9,500 to $ 9,070.

This is not the first time analysts have noticed that crypto traders refuse to accumulate if capital leaves the stock market.

BlockTower Capital's Avi Felman emphasizes that the BTC's trajectory today again coincided with the behavior of the S&P 500 index, which reflects the value of shares in leading technology companies.

Recently, BitMEX CEO Arthur Hayes said that if the S&P 500 falls below 3000 points again, the cryptocurrency market will be in a phase of crisis. The expert expects a drop in the value of not only Bitcoin, but also of all the leading altcoins, if the outflow of capital from the US stock market will increase.