ME News reports that on September 2 (UTC+8), Bloomberg ETF analyst Eric Balchunas posted on X that over the past six months, Bitcoin’s correlation has been lower than that of gold, small-cap stocks, emerging market stocks, and even U.S. Treasuries. Balchunas stated that he verified this after seeing the original post, noting that Bitcoin’s correlation has remained around 0.40, while correlations for gold and U.S. Treasuries have risen. He added that although this time window is short, the trend is noteworthy and does not support the claim that “Bitcoin is only correlated with QQQ.” (Source: ODAILY)
Bitcoin has shown lower correlation with U.S. stocks than gold, small-cap stocks, and U.S. Treasuries over the past six months.
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Summary
According to Bloomberg ETF analyst Eric Balchunas, Bitcoin news shows the asset has a lower six-month correlation with U.S. stocks than gold, small-cap stocks, emerging market equities, and even U.S. Treasuries. He noted that Bitcoin’s correlation with U.S. stocks has remained near 0.40, while correlations for gold and Treasuries have increased. Balchunas confirmed the data after reviewing related posts, highlighting a shift in Bitcoin’s relationship with traditional assets. The Fear & Greed Index may reflect this trend, as Bitcoin’s link to QQQ is being challenged.
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