The cryptocurrency community is buzzing with excitement as rumors swirl about crypto potentially decoupling from the U.S. stock market. 

Alex Thorn, Head of Research at Galaxy, pointed out this trend, noting that Bitcoin and gold were both up, while U.S. stocks and the Nasdaq-100 index were down. 

Dave Portnoy of Barstool Sports even weighed in on this encouraging development with a post on X, the social media platform.

Ironically, almost immediately after Portnoy’s comment, crypto started recoupling with U.S. stocks as stock losses deepened. 

Bitcoin is currently trading at $86,961, after hitting an intraday peak of $88,260. Even so, the leading cryptocurrency is still up nearly 3% over the last day.

Meanwhile, U.S. stocks are taking another hit, with the S&P 500 index, a key market indicator, down by over 3%. This brings the index’s total decline to nearly 13% since the year began.