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