The correlation between Bitcoin and the U.S. stock market has dropped to a several-month low

ChainCatcher news, according to The Block, block data shows that the 30-day Pearson correlation between Bitcoin and the Nasdaq index and between Bitcoin and the S&P 500 index has dropped to -0.84 and -0.82, respectively, marking a low since November 2023.

The relevant data from The Block is consistent with a recent report from Bloomberg, which stated that the 90-day correlation coefficient between Bitcoin and the Nasdaq 100 index fell to 0.21 on Tuesday, a multi-month low.