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Macro risk appetite

BKX/SPX Ratio vs Bitcoin (Weekly)

KBW Bank Index relative to the S&P 500, plotted weekly against Bitcoin price

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Chart informationBKX/SPX Ratio vs Bitcoin (Weekly)

About This Indicator

This chart divides the KBW Bank Index (BKX) by the S&P 500 (SPX) — a measure of how banks are performing relative to the broad US equity market — and plots it on a weekly cadence next to Bitcoin price. Banks lead in credit expansion and rate-driven risk appetite, so a rising ratio has tended to coincide with easing financial conditions, while sharp drops (2020, March 2023) mark banking-sector stress. Both series are weekly closes (last trading close of each ISO week); the ratio is scaled ×100 for readability.

Current Value & Interpretation

BTC price
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BKX/SPX ratio (×100)
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BKX (KBW Bank Index)
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SPX (S&P 500)
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Waiting for data.

Data Sources

  • KBW Bank Index (^BKX) and S&P 500 (^GSPC): Yahoo Finance daily closes via the backend, forward-filled over weekends and market holidays and resampled to weekly.
  • Bitcoin price: CoinGecko API via backend price history (daily closes resampled to weekly).

Last Updated

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