Bitcoin's correlation with S&P 500 hits 23-month high

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Affected by macroeconomic factors, the correlation between Bitcoin and the S&P 500 has risen to 0.67, a nearly two-year high. Recently, due to weak US employment data, the price of Bitcoin fell 10%, and then partially recovered, closing down 3% on a weekly basis. The upcoming US CPI data and the Federal Open Market Committee meeting on September 18 are expected to further affect the crypto market.

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