Bitcoin Outperforms Stocks Amid Selloff

Bitcoin Outperforms Stocks Amid Market Selloff

• Bitcoin gained 13% in April, outperforming the Nasdaq Composite and S&P 500.
• The correlation between Bitcoin and the S&P 500 briefly dipped below 0.25 but rebounded to around 0.55 by the month’s end.
• Bitcoin’s volatility decreased by 4% in April, while equity market volatility doubled.
• Ethereum’s dominance in smart contract fees fell significantly as users migrated to other networks.

In April, Bitcoin demonstrated resilience with a 13% gain despite broader market selloffs, contrasting with a slight increase in the S&P 500 and a decline in the Nasdaq Composite. Ethereum faced challenges as its fee dominance decreased due to user migration.