Analysis: The correlation coefficient between Bitcoin and US stocks continues to weaken, and gold may become a leading indicator of BTC

Odaily News CryptoQuant analyst oinonen_t released a report that the most important trend of Bitcoin at present is the decoupling from the US stock index. In the past seven days, Bitcoin has clearly decoupled from the S&P 500 and Nasdaq Composite Index, and its correlation with traditional stocks and technology stocks is weakening. The correlation coefficient between Bitcoin and the S&P 500 has dropped from 0.88 at the end of 2024 to 0.77, and the correlation coefficient with Nasdaq has also dropped from 0.91 in January to 0.83. It is worth noting that the correlation between Bitcoin and gold is increasing, with the correlation coefficient rising from -0.62 at the beginning of the month to the current -0.31. Bitcoin used to lag behind gold for several months. If the current trend of decoupling from stock indexes continues, gold may become a leading indicator of Bitcoin if other conditions remain unchanged.