The correlation between the US stock market and cryptocurrencies has never been higher, according to a recent analysis by Singapore-based QCP Capital. The firm noted that this correlation is currently at 0.83, which is the highest level ever recorded. This correlation is likely due to a number of factors, including the increasing institutional adoption of cryptocurrencies and the growing use of cryptocurrencies as a hedge against inflation. Additionally, the recent presidential election in the United States may have also played a role in driving up the correlation between the two markets. With major presidential candidates indicating a more crypto-friendly stance than the previous administration, capital could flow into the cryptocurrency market even if the stock market turns bearish. This could lead to even higher levels of correlation between the two markets in the future. Analysts are closely watching the relationship between the US stock market and cryptocurrencies. If the correlation continues to rise, it could have a significant impact on the cryptocurrency market.