Bitcoin Kisses Growing Correlation With S&P 500 Goodbye
The stock market is still within striking distance from former all-time highs set in 2021, yet Bitcoin and other cryptocurrencies feel miles away by comparison. The two vastly different types of assets that once traded lock and step are now experiencing a significant divergence. Is it time for BTCUSD to kiss its correlation with the […]
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Bitcoin’s growing correlations with gold, S&P 500 and Nasdaq 100 indicate that investors see BTC as a “relative safe haven,” BofA strategists wrote. Despite the ongoing cryptocurrency bear market, investors have been increasingly looking at Bitcoin (BTC) as a safe haven, a new study suggests.The rise in correlation between Bitcoin and gold (XAU) is one of major indicators demonstrating investors’ confidence in BTC amid the ongoing economic downturn, according to digital strategists at the Bank of America.Bitcoin’s correlation with gold — which is commonly viewed as an inflation hedge — has....
Bitcoin is strongly moving in the opposite direction to Gold as the Correlation metric for the two has dropped to its lowest since November 2022. Bitcoin-Gold Correlation Is At Its Most Negative In Years As pointed out by on-chain analytics firm CryptoQuant in an X post, the Correlation Coefficient for Bitcoin and Gold has plummeted […]
Data shows the Bitcoin correlation with the US stock market has remained at a high value recently as it saw an increase during the last week. Bitcoin Correlation With Stock Market Observed Slight Growth In Past Week According to the latest weekly report from Arcane Research, BTC’s correlation with NASDAQ and S&P 500 is currently […]
Bitcoin’s correlation with the stock market has been on the rise over the last year. What started out slowly had quickly ramped up in the last few months to reach the highest correlation points in recorded history. Once this had peaked, it was expected that both markets would begin to decouple from one another. However, […]