Bitcoin: Correlation to Stocks Below Gold

Bitcoin posted lower correlation to US stocks than gold, small caps, EM and treasuries over the past six months, according to Eric Balchunas, undermining claims that BTC simply tracks QQQ. The asset has maintained its historical 0.40 correlation range while gold and treasuries tightened their equity ties in the last six to twelve months. BTC price sits at $77236.45 inside the Bollinger band on the 4h chart, with EMA50 at $77526.72 acting as immediate resistance and EMA200 at $71800.52 providing long-term support; the MACD death cross at -291.25 and neutral RSI of 41.89 suggest price may test the lower band at $76805.1 before any sustained move higher, a setup that aligns with BTC price prediction models factoring reduced equity beta.