Bitcoin's price has become more closely linked to U.S. stock market movements as its correlation with equities has increased again after nearly two months of independence. This change means Bitcoin is now more exposed to declines when U.S. stocks fall, influenced by rising 10-year Treasury yields nearing 5.35%, the highest since 2008. Higher yields increase the cost of holding non-income assets like Bitcoin, reducing market liquidity. Meanwhile, the altcoin market saw its first weekly drop after gains, with micro-cap coins experiencing late-stage rebounds as funds shifted toward them.
Bitcoin's rising correlation with U.S. stocks comes as 25 of 50 major cryptocurrencies on Pluang gained and 24 fell today. Notable movers include ADA (Cardano) up 6.77% with a typical hold time of 126 days and a 60% buy order activity, FIL (Filecoin) up 6.30% with 80% buy orders, and AXS (Axie Infinity) down 5.96% with 69% buy orders. This market snapshot is as of Oct 06, 2026 01:32 WIB.
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