Bitcoin Decouples from Gold, Stocks, and the Dollar

Bitcoin has significantly weakened its correlation with traditional assets, including gold, US equities, and the US dollar, according to Santiment data. While Bitcoin previously moved in tandem with gold due to shared concerns over government debt and currency debasement, it has recently surged independently, reaching peaks above $87,000. Since August 18, Bitcoin's market capitalization has grown by 36%, contrasting with the S&P 500's 0.8% gain and gold's 1.5% decline.