Cryptocurrency market analyst Willy Woo tweeted on September 25 that the cryptocurrency market will decouple from stock markets, as a result of internal BTC adoption.

• Woo predicts “startup style growth” as opposed to “changes in perceptions as a hedging instrument by traditional investors” as resulting in a lack of correlation
• He also thinks that long term holders will fuel the decoupling, which is the group he refers to when saying “internal BTC adoption”
• As evidence, Woo points to glassnode data that shows a rise in the number of active entities
• Analysts have discussed the correlation between cryptocurrencies and other asset classes in 2020, which had been present to a moderate degree
• PlanB, which built the often cited Stock2Flow model, suggested in June 2020 that the correlation between Bitcoin and the S&P 500 would result in a $288,000 price target by 2024