Santiment PRO Monthly Report: A May Downpour Ends on a Positive Note
May, 2022 was not for the faint of heart. And even the most embattled and experienced crypto traders were tested the first two weeks of the month on a brutal drop after the Fed's announcement that interest rates would be rising 0.5%.
Crypto was once considered to be among the most immune sectors from real-world events, and unaffected from capitalistic successes and failures in general. However, throughout the first five months of 2022, we've seen a very steady approximate peg between Bitcoin's and the S&P 500's price movements. Inflation and war fears have not been kind to either market.
Why is crypto more closely tied to equities? Likely due to the massive market cap growth in 2020 and 2021, retail investors from equities have flocked to cryptocurrencies at unprecedented rates. This has caused a far greater overlap in trading moves
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