Bitcoin (BTC USD) has often traded in tandem with the US stock market indices, the Nasdaq Composite and S&P 500.
However, onchain data analytics provider CryptoQuant has revealed a negative correlation between Bitcoin and Nasdaq.
The price of Bitcoin has increased by over 10% over the past week, whereas the Nasdaq plummeted drastically, within the same period.
Insight on the Chart Decoupling
CryptoQuant shared a screenshot of the BTC and S&P 500 Index correlation in an X post.
The chart shows that the historical correlation between BTC USD and the stock market has broken. The stock market and BTC are now moving in quite the opposite direction.
CryptoQuant analyst oinonen_t noted that the Bitcoin correlation with Nasdaq, which stood at 0.91 in January, has reduced to 0.83.
Image Source: CryptoQuant on X
Likewise, the correlation with the S&P 500 has dropped to 0.77 from 0.88 in late 2024.
Bitcoin’s price has remained relatively stable since US President Dona
We współpracy z: https://www.thecoinrepublic.com/2025/04/25/bitcoin-btc-usd-decoupling-from-nasdaq-key-implications-for-price/
