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Bitcoin finally decoupled from U.S. stocks. Here’s why it matters

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The correlation between bitcoin and the S&P 500 has fallen to close to zero, according to a Tuesday note by Dan Morehead, founder and managing partner at...

For more than two years, bitcoin and stocks often traded in tandem with each other but maybe no longer.

For most of cryptocurrencies’ history, the assets... For more than two years, bitcoin and stocks often traded in tandem with each other but maybe no longer. For most of cryptocurrencies’ history, the assets were not correlated with U.S. stocks, noted Morehead. During the first nine years of the existence of bitcoin, which was created in 2009, correlation between the crypto and the S&P 500 was 0.03.

Part of the reasons was market participation from “all of the excessively-leveraged centralized entities,” according to Morehead.

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