Bitcoin Decouples from Stocks, Hits Lowest Correlation Since FTX Collapse
Bitcoin's correlation with U.S. stocks has hit its lowest point since the FTX collapse in November 2022, indicating that the cryptocurrency is increasingly moving on its own fundamentals rather than mirroring stock market sentiment.
Data from Santiment shows the 30-day rolling correlation between Bitcoin and the U.S. stock market dropped to as low as -0.299 in December 2025 before recovering to around 0.18 in January 2026.
The decoupling marks a notable departure from the pattern seen during much of 2024 and early 2025, when Bitcoin frequently traded in tandem with tech-heavy indices like the Nasdaq.
From late August 2025 to early 2026, Bitcoin's price declined approximately 43%, while the S&P 500 gained about 7% over the same period. Gold, often viewed as a safe-haven asset, surged roughly 51% during that stretch.