Bitcoin Will Keep Outperforming the S&P 500 as Correlation Weakens, Says Bitwise Research Head
- —Bitcoin's 260-day correlation with the S&P 500 fell to its lowest level since 2015
- —BTC's 90-day correlation with gold reached its highest since 2020
- —Bitcoin gained about 25% in August and 8.8% through September 22, briefly hitting $87,359
- —Weekly Bitcoin ETF inflows surged to an 11-month high of $2.39 billion
Why it matters: The weakening link to equities strengthens the case for Bitcoin as an independent macro asset, potentially drawing more institutional capital.
Source: CoinCodex