Bitcoin's early crash to $60,000 now looks like a warning for stocks

Bitcoin has once again acted as a leading indicator for risk assets, plunging sharply before the ongoing global stock market swoon. What to know : Bitcoin has once again acted as a leading indicator for risk assets, plunging sharply before the ongoing global stock market swoon. Major equity benchmarks including the S&P 500, SPDR Financial Select Sector ETF and India's Nifty index mirror bitcoin's pre-cash price structure. Historical patterns, including episodes in 2017, before the COVID crash and in late 2021, suggest that bitcoin often peaks before the S&P 500.