Bitcoin's correlation with U.S. stocks was about 0.40 over the past six months, below the comparable correlations for gold, small-cap stocks, emerging-market equities and U.S. Treasuries. Bloomberg ETF analyst Eric Balchunas said he checked the data after seeing related posts on X. He noted that correlations for gold and Treasuries had increased, while Bitcoin's remained near 0.40. Balchunas cautioned that the six-month period is relatively short but said the result remains noteworthy and does not support the view that Bitcoin is correlated only with QQQ, an ETF tracking the Nasdaq-100 Index.