#Bitcoin No Longer Correlated to U.S. Stocks, Crypto Analytics Firm Block Scholes Says.

The performance of Bitcoin ($BTC ) is no longer dependent on the mood of the #American stock markets.

The 90-day rolling correlation between movements in the spot price of bitcoin and those in the S&P 500, a more comprehensive index, as well as the tech-heavy #Nasdaq equities index on Wall Street, has decreased to almost zero. According to statistics monitored by crypto derivatives analytics company #BlockScholes, that is the lowest level in the last two years.

"It [the correlation] is now at the lowest level observed since July 2021, when BTC was between its twin peaks in April and November," wrote Andrew Melville, a research analyst at BlockScholes, in an email. #Cryptoniteuae