Analyst updates outlook on S&P 500, says king coin to follow
By: thestreet|2025/05/09 18:45:04
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As the markets reflect recovery from the shockwaves sent by President Donald Trump's tariff escalations, a leading analyst Jason Pizzino has offered a surprising take on the correlation between the stock and crypto markets. Pizzino is a crypto analyst and educator who hosts a popular YouTube channel that boasts more than 350,000 subscribers. On May 7, Pizzino said on his channel that the S&P 500 index may fall during the second quarter of 2025. Given the stock market's correlation with Bitcoin , even the king coin could see a correction. Pizzino said that the markets peaked from December 2024 through February 2025. They began declining in April, and he could foresee a correction in May and June. Further, the market will get "a bit messier" during the second half of Q2 and Q3 before a clear picture emerges towards Q4, Pizzino predicted. Given the fact that Bitcoin has been up for a few weeks, it will witness a correction in Q2 due to its correlation with the stock market, Pizzino added. Pizzino also referred to the correlation between Bitcoin and the US dollar index (DXY) and predicted that investors may flock to the cryptocurrency due to its status as a safe haven asset amid a declining DXY index. At the time of writing, the S&P 500 index was exchanging hands at 5,663.78 points, near the Apr. 2 level when Trump announced the tariff hikes. Bitcoin staged a dramatic recovery and surpassed the much-awaited $100,000 level on May 8. As per Kraken's price feed , it was trading at $103,122 at press time — its highest point in more than three months. In fact, the asset is only 5% lower than its record high of $108,786 that it hit on Jan. 20.
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