Data: Bitcoin's correlation with U.S. stocks drops to a five-year low

According to CoinDesk, data shows that in 2024, Bitcoin and the NASDAQ index only had a 52% correlation in fluctuations, with a 30-day correlation dropping to 0.46, one of the lowest levels in the past five years.

According to Fidelity data, Bitcoin's correlation with the SP 500 index is only at 19%, showing the best Sharpe ratio among major asset classes. Since Trump won the U.S. election on November 6th, Bitcoin has broken through $93k setting a new high while NASDAQ fell back from its historical peak by about 4%.

According to Glassnode data, Bitcoin's implied volatility over thirty days has dropped from around100% in year of 2021 down to approximately60%. As it stands as seventh largest global asset class now ,Bitcoin is gradually breaking away from traditional risk assets and demonstrating independent market performance.