title: Bitcoin (BTC) May See a Market Correction if the Stock Market Recovery Stalls

A widely followed crypto analyst is warning that Bitcoin (BTC) may see a market correction if the stock market recovery stalls out.

Crypto analyst Jason Pizzino is warning that Bitcoin (BTC) may see a market correction if the stock market recovery stalls out.

In a new video update, the crypto strategist says that S&P 500 (SPX) may dip lower in the second quarter and drag Bitcoin down with it, based on BTC’s historic correlation with stocks.

Pizzino suggests the SPX may swing lower in the second quarter based on its own performance pattern over the past two decades.

“I’ve got our 20-year line on the [S&P 500] chart here, and we’re just using this to look at the swings of a market…'s performance in the second quarter.

With that in mind, you can see we’ve had a similar event here starting from about December into these peaks of February, running down into April, and then May has this little bit of a drop, along with June also having a correction. It gets a bit messier through the second half of quarter two and quarter three, then things start to get a little bit cleaner towards quarter four. And that’s why I’m still considering that Bitcoin does have a correction in quarter two. We’ve been up for a few weeks here. Generally, we’ll get some sort of correction.”

Pizzino also says that Bitcoin may gain bullish momentum based on its own performance pattern over the past two decades.

The DXY, which has been declining, pits the USD against a basket of other major foreign currencies.

“There’s a strong downtrend for the US dollar. It has paused here. So that’s not a bad sign at the moment, especially with Bitcoin still going up. US dollar pausing, could see some further strength for BTC in the coming weeks, after any sort of correction.”

Bitcoin is trading for $97,346 at time of writing, up 0.33 over the past four hours.