Market Measures - February 3, 2021 - The Story of Bitcoin
Bitcoin (BTC) is around 4x more volatile than SPY at this moment.
As both the market and bitcoin approach all time highs, one may be a good hedge against the other as their correlation is low: around 0.30.
With no options for BTC at the moment, one can trade it directionally using futures (/BTC) or the new cash crypto feature on the tastyworks platform.