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

Planet Daily News: CryptoQuant analyst Timo Oinonen released a report stating that the current most important trend for Bitcoin is decoupling from US stock indices. Over the past seven days, Bitcoin has significantly deviated from the S&P 500 and Nasdaq Composite indices, and its correlation with traditional stocks and tech stocks is weakening. Bitcoin's correlation coefficient with the S&P 500 has dropped from 0.88 at the end of 2024 to 0.77, and its correlation coefficient with the Nasdaq has fallen from 0.91 in January to 0.83. Notably, Bitcoin's correlation with gold is increasing, with the correlation coefficient rising from -0.62 at the beginning of the month to -0.31 currently. Bitcoin has often lagged behind gold's trend by several months. If the current decoupling trend from stock indices continues, under unchanged conditions, gold may become a leading indicator for Bitcoin.