The annualized volatility of the cryptocurrency market value in Q2 reached 48.2%, higher than the S&P 500

Data disclosed by CoinGecko on the X platform shows that in the second quarter of 2024, the total market value of cryptocurrencies fell by 14.4% (408.8 billion US dollars), dropping to 24.3 trillion US dollars, basically fluctuating between 23 trillion and 29 trillion US dollars. While the cryptocurrency market was falling, the SP 500 index rose by 3.9%, causing a significant decrease in correlation between cryptocurrency market value and SP500 index from a first-quarter level of .84 to a second-quarter level of .16. In addition, volatility remained high in the cryptocurrency market during Q2 with an annualized volatility rate reaching up to 48.2% for total market cap and Bitcoin's annualized volatility rate at about 46.7%. By comparison, The SP500 Index had much lower volatility at just around 12.7%.