Bitcoin just hit a decade-low S&P 500 correlation, but the daily data tells a different story

Bitcoin’s longer-term correlation with the S&P 500 has fallen to its lowest level in roughly a decade, suggesting weaker structural linkage between the two assets. However, daily price data shows more frequent short-term co-movement, indicating that Bitcoin remains sensitive to near-term shifts in broader risk sentiment. The divergence implies that Bitcoin may be decoupling over extended periods while still behaving like a risk asset during market-moving events.