According to a recent CoinDesk report on November 18th, **Bitcoin** is exhibiting significant shifts in its relationship with traditional market indices. The data reveals that in 2024, Bitcoin maintained a mere **52% co-movement** with the **Nasdaq index**, with its 30-day correlation declining to **0.46**—one of the lowest metrics observed in the past five years. Additionally, information from **Fidelity** shows that Bitcoin’s correlation with the **S&P 500 index** has diminished to just **19%**, while also achieving the most favorable **Sharpe ratio** performance across major asset classes.
Since the U.S. election on November 6th, which led to Trump’s victory, Bitcoin has experienced a notable surge, reaching over **$93,000**, even as the Nasdaq index witnessed a **4% decline** from its peak. Notably, data from **Glassnode** indicates that Bitcoin’s 30-day implied volatility has plummeted from **100% in 2021** to the current level of around **60%**. As it stands, Bitcoin, now recognized as the seventh-largest asset globally, is increasingly detaching itself from traditional **risk assets**, demonstrating a trend towards independent market performance.