$BTC

Over the past year, Bitcoin prices have performed strongly, reaching a new high market capitalization of $2.1 trillion. However, the correlation between the market capitalization of Bitcoin mining companies and Bitcoin prices has significantly decreased.

Key Events: The correlation between Bitcoin and mining companies (such as Marathon and Riot Platforms) has declined, with a decrease in Bitcoin reserves held by miners, indicating that miners are selling Bitcoin, leading to a decline in their market capitalization.