Analysts suggest that Bitcoin is becoming more independent, reducing its correlation with traditional financial markets.
Recent market data shows that the short-term correlation between Bitcoin and the S&P 500 has decreased significantly compared to previous levels. A correlation coefficient closer to 1 indicates that two assets move in the same direction, and recent figures suggest that the correlation between the two assets has significantly weakened.
It's noteworthy that while Bitcoin's correlation with the stock market is decreasing, its price movements are relatively similar to those of gold. This is interpreted as a signal that some investors are re-evaluating Bitcoin as a store of value or inflation hedge, rather than a short-term risk asset.
Market experts believe these changes could impact the asset allocation strategies of institutional and individual investors. Specifically, if Bitcoin exhibits a different trend from stocks and bonds in a period of increasing macroeconomic uncertainty, its utility as a diversification tool could increase.
However, some argue that a cautious approach is necessary, as correlations between assets can fluctuate depending on the regulatory environment and technical variables surrounding the cryptocurrency market. Investors should monitor Bitcoin's evolving role within the asset class from a mid- to long-term perspective, rather than focusing on short-term price fluctuations.
