This is a long term view.
BTC and SPY have always been going hand in hand.
Every start of a bullrun was marked with green crosses in EMA 7/20 for both BTC and SPY.
Right now, we have not a green cross on either of them. Interestingly, both are still on death-cross trends.
Within the next few weeks, the signals will be clear. Better be late than sorry, if it's bull, there are always money to make.