[Grayscale: Crypto Market Gradually Moving Away from Bitcoin Dominance, Correlation Between Sector Returns Continues to Decline] According to a report by Jinse Finance on November 13th, Grayscale released a research report indicating that over the past three years, Bitcoin price changes have only explained about 50% of the return differences across various sectors of the crypto market, with the remaining changes largely influenced by sector and specific asset factors. Meanwhile, the correlation between different crypto sectors has declined from its previous highs, and market performance is gradually diverging. Data shows that Bitcoin's actual volatility over the past year was approximately 43%, while the annualized volatility of the cryptocurrency payment sector was 49%, and the AI sector reached as high as 85%. Grayscale believes that as the crypto market matures, investors can expect to obtain more diversified sources of returns through different sectors and asset allocations, but declining correlation does not necessarily mean reduced investment risk.