In terms of correlation, the beta coefficient between BTC and the US stock market is actually dynamic and tends to decouple especially in the late stages of a bull market. Remember the market surge in the second half of 2021? The Nasdaq index was still hitting new highs, but Bitcoin had already entered a sideways consolidation phase, and everyone knows the outcome that followed.

What is truly worth cautioning against is waiting for a clear US stock market correction before thinking about bottoming out BTC, as liquidity might tighten more than expected by then. The current situation is that BTC not following the market upward is often just a sign of capital rotation, but once it follows the market downward, it can easily turn into indiscriminate selling — these are two different things.