Glassnode: Bitcoin Increasingly Exhibits Macro Asset Properties, Rising with Risk Appetite and Falling with Market Pressure

BlockBeats News, June 25th, Glassnode published an article on Platform X stating, "Since 2022, Bitcoin's beta relative to Global Liquidity (GLI) and the stock market (such as SPY/QQQ) has continued to rise, while its beta to Credit Pressure (High-Yield Bond Spread HY OAS) has become more negatively correlated. This indicates that BTC is becoming more like a macro asset: rising when risk appetite is increasing and falling when market pressure intensifies."