According to BlockBeats, recent data from CoinDesk reveals that Bitcoin's correlation with the Nasdaq Index has decreased significantly in 2024, with only 52% of movements aligning. The 30-day correlation has dropped to 0.46, marking one of the lowest levels in the past five years. Fidelity data further indicates that Bitcoin's correlation with the S&P 500 Index is just 19%, and it boasts the best Sharpe ratio performance among major asset classes.
Since Donald Trump's victory in the U.S. election on November 6, Bitcoin has surged past $93,000, reaching a new high, while the Nasdaq Index has fallen 4% from its historical peak. According to Glassnode, Bitcoin's 30-day implied volatility has decreased from 100% in 2021 to approximately 60% currently. As the seventh-largest asset globally, Bitcoin is increasingly decoupling from traditional risk assets, demonstrating an independent market performance.
