BTC correlation with NDX and SPX started to diverge when the FED cut rates for the first time, not when Trump won the elections in a sign that new money printed into the financial system, relatively speaking, has really been flowing into crypto, not into stocks where, as a matter of fact, asset managers overall have been rotating their allocations in the past 6 months.

As I stated before, with stock valuations at hardly justifiable levels, investors (who won't stop dreaming of becoming rich quickly) will look for other asset classes that have better opportunities to grow bigger.

Considering that crypto overall is still worth less than $AAPL, objectively speaking the asset class will be considered a good investment opportunity by many (especially speculators) and BlackRock is even leading the charge in this direction. 🤷‍♂️