Odaily Planet Daily News CoinGecko published an article on the X platform stating that the total market value of cryptocurrencies fell by 14.4% (US$408.8 billion) to US$2.43 trillion in the second quarter of 2024, basically fluctuating between US$2.30 trillion and US$2.90 trillion. While the cryptocurrency market fell, the S&P 500 index rose by 3.9%, causing the correlation between the cryptocurrency market value and the S&P 500 index to drop sharply, from 0.84 in the first quarter to 0.16 in the second quarter. In addition, cryptocurrency volatility remained high in the second quarter, with an annualized volatility of 48.2% for the total market value and 46.7% for Bitcoin. In contrast, the volatility of the S&P 500 index is much lower, at 12.7%.