Copper, Bitcoin May Be Fine as Long as Beta Rises Directional inklings into year-end for copper and Bitcoin appear highly dependent on the S&P 500 (SPX) as volatility season heats up. My annual chart, with the metal and crypto on the same scale as SPX, shows copper appearing to be pulled along and Bitcoin reverting from a too-high plateau. The bottom line for both is that to maintain buoyancy from SPX-equivalent levels near 6,670 for copper ($6.67 a pound) and 8,400 for Bitcoin ($84,000) on Sept. 25, beta may need to rise, or else. The last two down years for SPX coincided with the midterm elections in 2018 and 2022, and both copper and Bitcoin dropped alongside beta. The metal's performance has flatlined vs. SPX since about 2019 despite trading almost 2x the volatility. Bitcoin has flatlined vs. beta since about 2021 but with roughly 3x the volatility. Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/tlpmslkijh8n {BI COMD} #copper #Bitcoin #stockmarket @BBGIntelligence