On January 25, market data provider Kaiko revealed that the 60-day correlation between Bitcoin (BTC) and the Nasdaq 100 has averaged close to zero since June 2023. This suggests that the two asset classes have become less correlated in recent months, potentially showing that their prices are increasingly decoupling.
Bitcoin Decoupling with Nasdaq 100?
Historically, Bitcoin has been highly correlated with traditional asset classes, particularly the Nasdaq 100, due to its association with risk-on sentiment and speculative trading. However, this recent divergence could signal a shift in their relationships.
Several factors could be behind this decoupling. The rise of institutional investors in the crypto market has led to a more diverse set of participants and a broader range of investment strategies. Consequently, this could reduce reliance on traditional market signals as a driver of Bitcoin price movements.
The increasing adoption of Bitcoin as a store of value and a medium of excha
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