I noticed the strangest thing – if you look at the S&P 500 and Bitcoin, they are virtually in lockstep.

Taking a closer look, just at this year, the correlation seems even tighter still:

Why is this? Animal spirits? The public adulation for speculation running in parallel irrespective of asset class? It would seem so. And it would further seem that Bitcon's inability to leap above $10,000 again could spell trouble.