Bitcoin decoupling from U.S. stocks deepens to lowest level since FTX collapse

Bitcoin’s correlation with U.S. stocks has fallen to its lowest level since the FTX collapse in November 2022, signaling a deeper decoupling trend, Crypto Briefing reported, citing Santiment data. The outlet said Bitcoin’s 30-day rolling correlation with the U.S. stock market dropped to as low as -0.299 in December 2025 before standing at around 0.18 in January this year. While Bitcoin had previously been classified as a risk asset due to its strong correlation with tech stocks such as the Nasdaq, it has recently shown a different trajectory. From late August 2025 to early 2026, Bitcoin’s price fell about 43%, while the S&P 500 rose about 7% over the same period. Gold prices surged about 51% during that span. Market participants pointed to ongoing deleveraging following the launch of spot BTC ETFs as a main driver, according to the report.