Bitcoin gained more than “every asset class” over the course of 2024, according to a new report, undoing correlation with equities, gold, and the U.S. dollar in the fourth quarter thanks to a late-year price surge.
Research released by New York Digital Investment Group shows that in Q4 2024, Bitcoin broke away from major assets following the election of Donald Trump in November—but it could still move back in line with them.
Bitcoin has often moved in line with U.S. equities—particularly tech stocks—as it is considered by many to be a “risk-on” asset. It has also typically done well in a low-interest rate environment.
“With Bitcoin increasingly owned by traditional market investors, it’s natural to expect correlations to change,” the NYDIG report read, referring to the new Bitcoin ETFs
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Author: Mathew Di Salvo
