Over the last year or so the correlation of BTC to SPX 500 has become quite strong. One of the greater arguments for BTC is that it is an inflation hedge and that it is uncorrelated to other assets. This current trend is counter to that theory and shows that a strong relationship exists between the S & P 500 and Bitcoin. Should there be a pull back in equities, one may argue that a pull back in BTC is expected. With other factors in the background such as inflation, threats of an increase to capital gains taxes for the wealthy, & and over extension in asset prices... the currently strong relationship between SPX and BTC signals that BTC is not a hedge.