Bitcoin may be behaving like a more volatile version of the stock market, according to crypto analyst Benjamin Cowen. In a recent video, Cowen suggests that Bitcoin is mirroring the movements of the Russell 2000 Index, NASDAQ, and S&P 500. He notes that these stock indexes experienced a rise to their 50-day simple moving average (SMA) before experiencing a pullback. Cowen speculates that Bitcoin may also rise to its 50-day SMA before another sell-off event occurs. He further explains that if Bitcoin is indeed a more volatile version of the stock market, it would make sense for it to undergo similar corrections. Cowen highlights that the S&P, Russell, and NASDAQ have all returned to their 50-day moving average, prompting the question of where Bitcoin’s 50-day moving average stands. According to Cowen, it is currently around $66,000. If Bitcoin fails to reach this level, it may indicate weakness in the crypto market. However, if it does reach this level, it would provide further evidence that Bitcoin operates as a more volatile version of the stock market, possibly with some lag. Yesterday, Bitcoin reached a high of $65,520 and is currently trading at $63,711.