The data show that the correlation between Bitcoin and S&P 500 has recently dropped to zero, which is a sign that BTC is no longer attached to the stock exchange.

The correlation of Bitcoins from the S&P 500 has recently witnessed the inheritance

In recent post On the X, the INTOTHEBLOCK intelligence platform on the market discussed the trend of correlation between Bitcoin and S&P 500. “Correlation” here refers to an indicator that follows how the prices of any two assets are related.

When the value of this record is positive, it means that the price of one of the assets reacts to movements in the other, traveling in the same direction. The closer the indicator 1, the stronger this relationship is.

On the other hand, the record under a zero sign suggests that although there is also a correlation between assets in this case, it is negative. This suggests that the charts move in the opposite direction to each other. In this zone, the highest point is -1, corresponding to the closest relationship.

Now there is a graph of a correlation made available by an analytical company, which shows the trend of metric values ​​for Bitcoin and S&P 500 over the past few months:

As shown in the graph above, the correlation between Bitcoin and S&P 500 increased similar to 1 mark in January, which means that the prices of these two showed a sturdy positive relationship.

However, since the summit at the beginning of this month, the indicator observed a keen trajectory down, and its value was brought to exactly zero. This value means that there is no correlation between the assets. In statistics, variables are similar to independent in this scenario.

Correlation can be a useful indicator to be observed when the investor wants to diversify his shares. The assets that have a close relationship may not be worth investing at the same time, but those that have a low metric value can be knowledgeable diversification options. At the moment, the S&P 500 can provide something else for Bitcoin investors and vice versa.

“The last time we saw such a low correlation on November 5, 2024, just before Bitcoin increased next to 100,000,” notes Intotheblock. Because BTC is again free from the stock market, it is possible that this time cryptocurrency can also demonstrate a lot of traffic. However, it remains only how long a coin can stay away from the influence of established assets.

BTC price

Bitcoin continued his recent consolidation trend in the last few days, because its price is still closed at USD 96,000.