Discussion and speculation thread: BTC & S&P 500 correlation - chart inside!

[peonminer]

https://www.tradingview.com/chart/BTCUSD/diT3l5pt-Bitcoin-Chart-Overlay-With-S-P-500/

I found this chart while looking to see what correlations BTC and S&P 500 have. It's interesting to see that the charts have a peculiar correlation in some aspects. It seems like the S&P 500 pulls back first before BTC. Can anyone add to this correlation of Wall St. and Bitcoin? Thanks for your input.

*tip - hit the play button on the chart to load increments up to the current time frame