{"id":23403,"date":"2025-04-24T19:30:00","date_gmt":"2025-04-24T16:30:00","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoins-divergence-from-nasdaq-and-sp-500-observed-by-researcher\/"},"modified":"2025-04-24T19:30:00","modified_gmt":"2025-04-24T16:30:00","slug":"bitcoins-divergence-from-nasdaq-and-sp-500-observed-by-researcher","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoins-divergence-from-nasdaq-and-sp-500-observed-by-researcher\/","title":{"rendered":"Bitcoin&#8217;s Divergence from Nasdaq and S&#038;P 500 Observed by Researcher"},"content":{"rendered":"<p>The correlation between the leading cryptocurrency and stock indices Nasdaq and S&#038;P 500 has significantly decreased, according to observations shared by CryptoQuant contributor known as oinonen_t.<\/p>\n<p><!--more--><\/p>\n<p><script async src=\"https:\/\/telegram.org\/js\/telegram-widget.js?22\" data-telegram-post=\"cryptoquant_official\/2961\" data-width=\"100%\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>&#8220;The correlation with the S&#038;P 500 index, which reached 0.88 at the end of 2024, has decreased to 0.77. A similar trend is observed with the Nasdaq Composite \u2014 from 0.91 in January, the figure has dropped to 0.83,&#8221; the expert noted.<\/cite><\/p><\/blockquote>\n<h2 class=\"wp-block-heading\">Digital Gold<\/h2>\n<p>The analyst also pointed out the growing correlation between Bitcoin and gold \u2014 since the beginning of the month, the coefficient has increased from -0.62 to the current -0.31. Both assets share the attribute of scarcity, although the former is a more limited resource.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>&#8220;Furthermore, Bitcoin tends to follow gold with a certain time lag \u2014 of several months. If the current trend of &#8216;decoupling&#8217; continues, gold may serve as a leading indicator for the leading cryptocurrency, all else being equal,&#8221; oinonen_t shared.<\/cite><\/p><\/blockquote>\n<p>Bitcoin typically shows opposite dynamics relative to the dollar: when the US currency strengthens, digital gold depreciates, and vice versa.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>&#8220;Recently, the USD has weakened somewhat,&#8221; the expert emphasized.<\/cite><\/p><\/blockquote>\n<h2 class=\"wp-block-heading\">On-chain Factors<\/h2>\n<p>CryptoQuant author Axel Adler Jr. noted a developing trend of decreasing the number of addresses depositing bitcoins to exchanges.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The number of addresses depositing bitcoins to exchanges has been steadily declining since 2022: the 30-day moving average has now dropped to 52K addresses compared to the 365-day level of 71K. Meanwhile, over the past 10 years, the most common distribution was around 92K\u2026 <a href=\"https:\/\/t.co\/sBAKWS9Jlb\">pic.twitter.com\/sBAKWS9Jlb<\/a><\/p>\n<p>\u2014 Axel ?? Adler Jr (@AxelAdlerJr) <a href=\"https:\/\/twitter.com\/AxelAdlerJr\/status\/1915292951896346950?ref_src=twsrc%5Etfw\">April 24, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>&#8220;The trend itself is bullish \u2014 over the past three years, investors have reduced coin sales by four times. This signals a growth in HODL sentiment, which significantly reduces selling pressure and lays the groundwork for further growth,&#8221; he explained.<\/cite><\/p><\/blockquote>\n<p>Analysts at Bitcoin Magazine Pro have recorded an increase in balances on &#8220;whale&#8221; addresses (from 1000 BTC). Over the past two months, large holders have increased their bitcoin reserves by more than $5 billion.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Since the beginning of March, Bitcoin whales have accumulated tens of thousands of BTC valued at over $5 BILLION! ? <\/p>\n<p>The last time we saw such aggressive whale accumulation <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> was below $40,000; just before we rallied over 80% in the following 2 months\u2026 ? <\/p>\n<p>??? <a href=\"https:\/\/t.co\/t6HCricbHO\">pic.twitter.com\/t6HCricbHO<\/a><\/p>\n<p>\u2014 Bitcoin Magazine Pro (@BitcoinMagPro) <a href=\"https:\/\/twitter.com\/BitcoinMagPro\/status\/1915043274760364187?ref_src=twsrc%5Etfw\">April 23, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to their observations, similarly aggressive accumulation was seen when the leading cryptocurrency was trading below $40,000. This was followed by an 80% increase in the asset over the next two months.\u00a0<\/p>\n<p>Back in April, CryptoQuant CEO Ki Young Ju <a href=\"https:\/\/u1f987.com\/en\/news\/cryptoquant-ceo-questions-bitcoins-rally-resurgence\">expressed doubt<\/a> about the resumption of a bitcoin rally. In his view, it is too early to talk about the return of a bull run until a confident breakthrough of $100,000 occurs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The correlation between the leading cryptocurrency and stock indices Nasdaq and S&#038;P 500 has significantly decreased, according to observations shared by CryptoQuant contributor known as oinonen_t.<\/p>\n","protected":false},"author":1,"featured_media":23402,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1268,1211],"class_list":["post-23403","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-on-chain-analysis","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"28","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/23403","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=23403"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/23403\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/23402"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=23403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=23403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=23403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}