Bitcoin's Equity Correlation Climbs to 0.5 Through 2025
After two years near zero, the rolling correlation between Bitcoin and the S&P 500 has nearly doubled, raising hard questions about the asset's diversification value.
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For most of late 2023 and early 2024, BTC's 90-day correlation with U.S. equities collapsed toward zero, only to climb back later in the year.
After months of BTC-only outperformance, capital is beginning to flow into Ethereum, Solana, and a handful of major L1s.
USDT issuer Tether published its latest reserves report, with U.S. Treasury holdings now larger than those of several sovereign nations.
The bank's crypto research desk, long an aggressive bull, formally cut its year-end target to below the round number, citing macro headwinds.
MicroStrategy/Strategy slowed its at-the-market equity issuance program sharply in November, as the premium of MSTR shares to underlying BTC NAV narrowed.
The correlation between Bitcoin and a basket of large AI stocks has reached multi-year highs, with both responding to the same Fed-and-bubble-risk narrative.
Aggregate stablecoin float across all chains and issuers has crossed a fresh round number, with payments use cases driving an increasingly large share of growth.
Quarterly venture investment in crypto startups has crossed $4 billion for the first time since 2022, led by infrastructure, payments, and stablecoin-rail bets.
More than two dozen non-U.S. listed companies have announced material Bitcoin treasury positions, with Japanese and Brazilian issuers leading the trend.
The largest U.S. crypto exchange's Q3 earnings beat estimates on a sharp recovery in retail trading volumes, with derivatives and custody emerging as quietly significant revenue lines.
Open interest on the regulated venue has crossed $20 billion for the first time, signaling deeper institutional engagement with the asset's derivatives market.
Implied vol on listed Bitcoin options briefly fell below levels last seen in 2019, reflecting the asset's increasing maturity as a regulated macro instrument.
Several mid-tier corridors have seen stablecoin volumes overtake conventional bank-wire activity, with the trend most pronounced in Latin America and Southeast Asia.
Memecoin trading volume on Solana drove network priority-fee revenue to all-time highs, with implications for validator economics and stake yields.
After years of pushback, the iris-scanning identity project has reached settlements that allow continued operation in several major jurisdictions.