Bitcoin’s Rising Beta Signals Its Shift to a Macro Asset Amid Market Liquidity and Stress Trends

COINOTAG News reported on June 25th that Glassnode revealed significant shifts in Bitcoin’s market behavior. Since 2022, Bitcoin’s beta relative to Global Liquidity (GLI) and major equity indices such as SPY and QQQ has steadily increased. This trend underscores Bitcoin’s evolving role as a macro-sensitive asset, aligning more closely with traditional financial markets during periods of heightened risk appetite.

Conversely, Bitcoin’s beta correlation with Credit Stress indicators, specifically the High-Yield Bond Spread (HY OAS), has turned increasingly negative. This inverse relationship suggests that BTC tends to decline when credit markets experience elevated stress, reinforcing its sensitivity to broader economic conditions.

These dynamics highlight Bitcoin’s growing integration into the macroeconomic landscape, reflecting its dual nature as both a speculative and risk-on asset. Investors should consider these correlations when assessing Bitcoin’s portfolio diversification potential amid fluctuating market environments.