Glassnode: Bitcoin's correlation with the macro market deepens, exhibiting typical characteristics of a risk asset

ChainCatcher message, according to a post by Glassnode on platform X, states that "since 2022, the beta value of Bitcoin relative to global liquidity (GLI) and stock markets (such as SPY/QQQ) has been continuously rising, while its beta to credit stress (high-yield bond spread HY OAS) has become increasingly negatively correlated. This indicates that BTC is increasingly behaving like a macro asset: it rises when risk appetite increases and falls when market pressure intensifies."