Bitcoin decouples from stocks in second half of 2025

In the second half of 2025, Bitcoin demonstrated a clear decoupling from US equities, falling nearly 18% while the Nasdaq, S&P 500, and Dow Jones posted gains of 21%, 14.35%, and 12.11% respectively. This divergence began in Q4 after Bitcoin moved alongside stocks in Q3. Key events included the signing of the GENIUS Act in July, which boosted crypto optimism, and Bitcoin hitting a new all-time high near $124,000 in August following a dovish signal from Fed Chair Jerome Powell. However, momentum stalled, leading to a sharp correction. September saw Bitcoin defy its historical trend with a gain, coinciding with the Fed's first rate cut. October was marked by the largest liquidation event in Bitcoin's history, triggered partly by President Trump threatening 100% tariffs on China, causing Bitcoin to end the month down despite stock market recovery. November proved to be Bitcoin's worst month of the year, falling 17.67% while equities traded sideways, and market watchers like Standard Chartered lowered their year-end price targets for BTC from $200,000 to $100,000.

(Source：Cointelegraph)