The correlation between Bitcoin and traditional assets has dropped sharply, and its independent market characteristics have become prominent

04-15

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Mars Finance News, on April 15th, according to The Block, Bitcoin has recently shown significant divergence from traditional assets:

Correlation at a New Low: The 30-day correlation between Bitcoin and the S&P 500 index dropped to -0.17 (the lowest since 2021), with a correlation to gold of only 0.03

Divergent Capital Flows: US stock ETFs saw an outflow of $12.6 billion last week, while Bitcoin spot ETFs saw a net inflow of $483 million against the trend

Volatility Difference: BTC's 30-day volatility (45%) far exceeds the Nasdaq index (12%)

Analyst Perspectives

Decoupling Signal: Matrixport noted that Bitcoin is transitioning from a "risk asset" to a "monetary policy hedging tool"

On-chain Support: Addresses holding over 1 BTC broke through 1.2 million, creating a new historical high, indicating retail accumulation

Key Resistance: If breaking through $67,200 (weekly Bollinger Band upper rail), it may confirm an independent bull market

BTC

4.55%

Sector:

Halving Tokens

Source

Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.

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MarsBit

21 hours ago

US stocks evaporated $1.5 trillion, why is the crypto market going against the tide?