Биткоин демонстрирует независимость от фондового рынка: корреляция с S&P 500 снизилась до нуля Headline: Bitcoin Shows Independence from Stock Market: Correlation with S&P 500 Drops to Zero

In the third quarter, the price of the leading cryptocurrency displayed independence from the movements of the American stock market, as noted in the CoinGecko report.

Analysts observed a decline in correlation between Bitcoin and the S&P 500 index, dropping from 0.9 to zero. However, other digital assets maintained a moderately high correlation with the stock index, registering 0.68 compared to 0.88 previously.

Overall market volatility significantly decreased, with the annual figure for the S&P 500 index falling from 30.7% to 10.6%, while Bitcoin’s volatility decreased from 42.1% to 29.2%.

Meanwhile, the statistical connection between Bitcoin and gold reached unprecedented levels. On October 14, the correlation approached a historical peak of 0.9, coinciding with a new price record for the precious metal at $4,179.48 per ounce.

Experts indicate that this reflects a growing interest among investors in the asset as a reliable store of value.

The correlation between Bitcoin and the overall cryptocurrency market weakened, with the measure dropping from 0.99 to 0.64. CoinGecko specialists attributed this to the outpacing performance of altcoins, which significantly outperformed digital gold in terms of growth during the third quarter.

*“There is a structural divergence: while Bitcoin shows independent dynamics, altcoins and other crypto assets still heavily rely on positive sentiments in the U.S. stock market,”* they added.

In comparison, Ethereum and BNB saw increases of 67% and 54% respectively, while Bitcoin only rose by 6.4%. The price of XRP increased by 27%, and Solana by 35%.

The growth rate of Bitcoin lagged behind that of gold, which gained 15.6%, as well as the Nasdaq and S&P 500 indices, which climbed 12.2% and 7.9% respectively.

Analysts noted a positive trend: the average daily trading volume of Bitcoin surged by 28.4%, reaching $41.1 billion. This break in the declining activity trend observed in the first two quarters is significant.

Furthermore, Glassnode analysts highlighted the concentration of options premiums on digital gold within a range of $115,000 to $130,000.

Peter Brandt stated that the price of the leading cryptocurrency is expected to *“exceed $125,000 after another decline.”*