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Over the last three weeks, the correlation between bitcoin (BTC) and the S&P 500 has been declining. As of February 17, the correlation dropped to zero, meaning BTC completely decoupled from the leading stock market index. According to data analyzed by market intelligence firm IntoTheBlock, the decorrelation between BTC and the S&P 500 could be a bullish signal because BTC soared past $100,000 after the last time the market saw such a low correlation. This was in early November, shortly after the United States presidential elections. Bitcoin Decorrelates From S&P 500 Bitcoin trading independently of the stock market suggests that there is a shift in market dynamics affecting the cryptocurrency. At the time of writing, BTC hovered around $97,500, still within the $91,000-$102,000 range, which it had consolidated in the past few weeks. On the other hand, the S&P 500 recorded a second consecutive all-time high on Wednesday, climbing 0.2% to 6,140.88. Other major stock indexes like the Dow Jones and Nasdaq Composite also closed slightly higher, hovering less than 1% from unprecedented levels. Bitcoin’s recent decorrelation from the stock market became increasingly evident in late January after the Federal Open Market Committee (FOMC) announced that interest rates would remain unchanged at 4.25%-4.50%. At the time, BTC showed no significant reaction to the news; however, the stock market and traditional equities experienced increased volatility. CryptoPotato reported that the reaction from both the traditional finance and crypto industries suggested that digital assets were evolving beyond the narrative of being just “high-leverage tech stocks.” It also meant that cryptocurrencies were becoming more independent from traditional assets. The development has persisted in the last few weeks, with bitcoin’s correlation with the S&P 500 now becoming non-existent. A Bullish Sign? Market analysts have discovered that most major crypto bull runs have occurred during times when BTC has recorded minimal reliance on global equity markets. This substantiates IntoTheBlock’s speculation that bitcoin’s decorrelation from the S&P 500 could be a bullish sign and that a major rally for the leading cryptocurrency could be on the horizon. Regardless, analysts at the crypto exchange Bitfinex insist that BTC is still vulnerable to macro developments and is currently behaving more like a risk-on asset than a store of value. The post Bitcoin Decouples From S&P 500 – Good or Bad for BTC? appeared first on CryptoPotato.

$PI The Pi Network has officially launched its open mainnet on February 20, 2025, allowing external transactions and integration with other blockchains. This marks a major milestone for Pi, which previously operated within an enclosed mainnet. Following this launch, several major crypto exchanges, including OKX, HTX, Bybit, MEXC,   Gate.io , BitMart, and Bitget, have listed Pi Coin (PI) for trading. Binance has also initiated a community poll to determine interest in listing PI, with voting set to end on February 27. After the listings, Pi Coin surged by 36.8%, reaching $1.97 before stabilizing around $1.80 to $1.78 on different platforms. This is a significant drop from the IOU prices of $61-$70 seen before the mainnet launch. As Pi Coin becomes more accessible, security is crucial. Users must safeguard their recovery phrases, which are essential for accessing and managing their Pi Wallets. To keep your Pi assets safe: 1. Never share your recovery phrase – Anyone with it can access your wallet and funds. 2. Store it securely – Write it down and keep it offline in a safe place. Avoid saving it digitally to prevent hacking risks. 3. Watch out for phishing scams – Beware of fake messages or websites pretending to be from Pi Network, asking for your recovery phrase. Pi representatives will never ask for it. By following these precautions, users can protect their Pi holdings and ensure the security of their digital assets as Pi Network enters a new phase of adoption and growth.

Lido’s customizable staking setup for Ethereum, stVaults, is coming to Northstake, a regulated platform offering compliant staking for institutions. On Feb. 21, Northstake announced that it was adopting the Lido offering to bring Lido staked ETH ( stETH ) liquidity to exchange-traded fund issuers. Lido ( LDO ) is the leading liquid staking protocol in the Ethereum ecosystem, while Northstake provides a validator marketplace that enables institutional participation. This, combined with Lido’s recently launched staking primitive, stVaults, will offer institutions greater flexibility in staking and utilizing ETH. stVaults are designed for institutional compliance and efficiency, making them a customizable staking solution. Northstake plans to integrate stVaults, set to launch later this year, into its validator marketplace. This integration will bring stETH’s deep liquidity to the platform’s market makers as they settle validator trades. Jesper Johansen, CEO & founder of Northstake, emphasized that integrating stVaults will unlock the full potential of ETH staking for institutions. “Institutional staking solutions need to evolve to meet the demands of scale, security, and regulatory compliance. Our plan to incorporate Lido’s pioneering stVaults into our ETH Validator Marketplace will set a new standard of staking services,” Johansen added. Lido’s traction in the decentralized finance ecosystem has seen it dominate the liquid staking market. Per DeFiLlama , Lido accounts for about $26 billion in total value locked. The TVL rose post ETH withdrawal activation to hit nearly $40 billion in March 2024. Currently, Lido facilitates more than 25% of all staked ETH value. Kean Gilbert, Lido DAO contributor says the launch of stVaults has the potential to extend access to staking to institutions. The solution will offer an open infrastructure that builders eyeing the stETH ecosystem can tap into to bolster adoption. “As the most liquid and composable staking token on Ethereum, stETH continues to provide a strong foundation for a wide range of integrations,” Gilbert stated.

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With $BTC BTC and $ETH ETH ETFs gaining traction$SOL SOL and $XRP XRP are top contenders for the next approval. Will regulators open the door to more crypto ETFs soon?