Bloomberg ETF analyst: Bitcoin's correlation with U.S. stocks in the past six months is lower than that of gold and U.S. Treasuries

Bloomberg ETF analyst Eric Balchunas posted that over the past 6 months, Bitcoin's correlation with the U.S. stock market has been lower than that of gold, small-cap stocks, emerging market assets, and U.S. Treasuries.

He stated that Bitcoin's historical correlation with U.S. stocks has roughly maintained around 0.4, while gold and U.S. Treasuries have seen a significant increase in their linkage with U.S. stocks recently.

Balchunas noted that although this time window is relatively short, it is sufficient to refute the claim that "Bitcoin is just another QQQ."