The U.S. Federal Reserve on Wednesday announced its third interest rate cut this year, which supported U.S. stocks, while bitcoin's first reaction was to decline.

This dynamic is characteristic of the second half of 2025. The correlation between the stock market and cryptocurrency continues to break down. Analysts point out that bitcoin has fallen in price by almost 18% over the past six months. Meanwhile, the three major US stock indices have shown steady growth.

That said, it's worth remembering that bitcoin did set new highs this year and avoided the typical September sell-off for the third year in a row.

Among the factors that contributed to the cascade of liquidations that brought bitcoin down below $110,000 is the industry's heavy reliance on derivatives trading, which, on the other hand, shows the development of the crypto industry and investor interest.

So far in December, bitcoin is up about 2%, which is still below December's average return of 4.54%. The instrument is trading above the $80000-85000 area, where buyer support was encountered.