US Stock Market Move | Bitcoin concept stocks mostly fell, Coinbase (COIN.US) fell below $300.

On Monday, most Bitcoin-related stocks fell. As of the time of writing, Coinbase (COIN.US) fell more than 3.6%, with its stock price dropping below $300; Canaan Inc. Sponsored ADR Class A (CAN.US) fell more than 5%, MARA Holdings (MARA.US) fell more than 9%; MicroStrategy (MSTR.US) rose more than 5%. On the news front, data shows that in 2024, Bitcoin and the Nasdaq index only had a 52% correlation in movement, with a 30-day correlation dropping to 0.46, one of the lowest levels in the past five years. According to Fidelity data, the correlation between Bitcoin and the S&P 500 index is only 19%, with the Sharpe ratio performing the best among major asset classes.