Bitcoin Decouples From Stock Markets

After months of tears and tantrums, Bitcoin wants to split up with stock markets.

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Crypto is now staging one of its strongest efforts yet to break away.

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Bitcoin is hovering near one-month highs around $20,500 and rose over 5% last week, outperforming the Nasdaq's 2% gain.

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The total market cap for cryptocurrencies has shrunk by more than two-thirds to $984 billion from nearly $3 trillion in November 2021, according to CoinMarketCap.

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Bitcoins 30-day correlation with the Nasdaq slid to 0.26 last week, lowest since early January.

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The correlation has hovered above 0.75 for much of the year

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Last week, Musk fired Twitter's previous chief, Parag Agrawal and other top company officials.

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