Crypto news flash: Joao Wedson said that Bitcoin is gradually becoming independent of traditional markets. The 252-day rolling correlation between Bitcoin and the S&P 500 has fallen to the lowest level in 11 years; it is currently about 0.37 and still decreasing. This suggests that Bitcoin still has some connection to the S&P 500 in terms of daily risk behavior, but the relationship is only moderate and continues to weaken. Bitcoin does not need traditional markets to lead at every stage of the cycle; it can form a macro bottom and transition into a new bull market while traditional markets take different paths. Correlation is not permanently fixed and will change when market conditions shift.

BTC0.54%
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