Bitcoin The asset gained more than “every asset class” over the course of 2024, according to a new report, pulling back from correlation with stocks, gold and the US dollar in the fourth quarter thanks to a late-year price rally.

Research from New York Digital Investment Group shows that in the fourth quarter of 2024, Bitcoin decoupled from the major assets following the election of Donald Trump in November – but could still come back in line.

Bitcoin has often moved in line with US stocks – especially technology stocks – as many consider it a “risk” asset. They also usually do well in a low interest rate environment.

“As Bitcoin becomes increasingly owned by traditional market investors, it is natural to expect correlations to change,” the NYDIG report said, referring to... New Bitcoin ETFs Trading on stock exchanges.

“However, the promise of a non-sovereign issuer store of value is an attractive investment in the current geopolitical climate, and one that should not be driven by the same macroeconomic levers as the US stock market,” she added.

Bitcoin soared to new highs following President-elect Trump's victory on November 5 victory. Next leader He campaigned Building on a promise to reduce regulation and help the digital asset industry, NYDIG credits Trump's win as a "key driver" of Bitcoin's rise.

By December 17, the largest digital currency had hit A new record high of $108,135, according to CoinGecko data He appears. It has since declined and is now trading at $99,600. Earlier this week, it briefly fell below the $90,000 level before bouncing back above $100,000.

NYDIG added in its research that Bitcoin outperformed all asset classes by a wide margin in 2024, rising by more than 47% in the last quarter, and by about 120% from January to the end of the year.

The largest cryptocurrency has moved in the past with both stock market and gold. Is it slowly becoming an asset class of its own?

Modified by Andrew Hayward