It seems like the popularity of Bitcoin is the main reason why Deutsche Bank takes it seriously. Cryptocurrencies have been growing more and more similar in terms of market sentiment, especially to Nasdaq 100 and S&P 500, since November 2021. Analysts Labourse and Pozdnyakova expect S&P to recover to its January prices.

Deutsche Bank is not the only finance giant to discover the bond between Bitcoin and U.S. stocks. Bloomberg’s senior strategist, Mike McGlone, also pointed out the same relationship in early June 2022.