$BTC The article analyzes the relationship between Bitcoin and U.S. stocks, specifically the S&P 500, and how it has changed in recent weeks. Here are the key points:
*Correlation between Bitcoin and stocks*
- The correlation between Bitcoin and the S&P 500 has decreased significantly in the last three weeks, falling from 0.80 to 0.35.
- This suggests that Bitcoin and stocks are starting to move independently.
*Decoupling of Bitcoin?*
- Some analysts believe that Bitcoin is beginning to decouple from stocks and is acting like a safe-haven asset similar to gold.
- However, others argue that Bitcoin still shows volatility similar to that of stocks during risk-averse events.
*Explanations for Bitcoin's superior performance*
- The adoption of Bitcoin treasury strategy by corporations.
- Bitcoin spot ETFs provide a firmer floor on the price.
- The U.S. transition from antagonism to cooperation with cryptocurrencies.
*Other cryptocurrencies*
- Most cryptocurrencies have risen this week, including Ethereum, SOL, DOGE, and LINK.
*News*
- Bitcoin ETFs attracted nearly one billion dollars in new capital.
- A new Bitcoin treasury firm funded by Tether and Softbank will launch with over 42,000 BTC on its balance sheet.
In summary, the article analyzes the relationship between Bitcoin and stocks, and how it has changed in recent weeks. It also explores the possible reasons behind Bitcoin's superior performance and highlights some relevant news in the cryptocurrency space.
