Most Bitcoin concept stocks are falling, as of the time of publication, Coinbase has fallen more than 3.6%.
According to Wise Finance app, on Monday, most Bitcoin concept stocks are falling, as of the time of publication, Coinbase (COIN.US) fell more than 3.6%, with the stock price dropping below $300; Canaan (CAN.US) fell more than 5%, MARA Holdings (MARA.US) fell more than 9%; MicroStrategy (MSTR.US) rose more than 5%. On the news front, data shows that in 2024, Bitcoin only had a 52% co-movement with the NASDAQ Index, with a 30-day correlation dropping to 0.46, one of the lowest levels in the past five years. According to Fidelity data, the correlation between Bitcoin and the S&P 500 Index is only 19%, performing the best in the major asset categories in terms of Sharpe ratio.
