what are the implications of BTC price now moving same direction as stocks?
to whatever extent straight up cash gains value in a market crash, then yeah, definitely. but it is a market crash, not a rally in USD. I disagree with you that there isn't an implication. There was a long time when BTC generally went opposite stocks, kinda like gold. No longer
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Yeah, the USD purchasing power isn't larger (in most contexts) 2012-2013 or so they were going the same direction. 2014-2015 was the opposite. Since 2016, S&P 500 and btc have both made gains. Different answers looking at years vs months, but I don't see a big change.
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Seriously doubt there's any implication though. Situation often aligns this way from chance