An interesting observation: over the past decade, the 30-day rolling correlation coefficient between Bitcoin and stocks has only been 0.2. It may sound insignificant, but think about it from another perspective—what does it imply?

A correlation of 0.2 essentially means they mostly move independently. You'll find that sometimes when the US stock market crashes, Bitcoin actually rises happily; the reverse is also true. This "independent" characteristic is quite valuable for those pursuing diversified asset allocation.

What's even more interesting is that some people have compared this data with other things. The correlation between Bitcoin and avocado prices—yes, that fruit—is sometimes even higher than its correlation with stocks. It sounds like a joke, but the data is right there.

This reflects a reality: as an asset class, Bitcoin's operational logic indeed differs significantly from traditional financial markets. Whether it's supply chain shocks, macro policies, or sentiment-driven factors, the influences on them often operate on different levels. Therefore, for investors, it's time to reassess Bitcoin's role within the entire asset portfolio.