Bitcoin’s Shocking Stock Market Correlation Continues To Grow

By Bitcoinist - пред 1 година - Време на читање: 2 минути
Сре, 11 мај 2022 година 7:00 часот

Bitcoin’s Shocking Stock Market Correlation Continues To Grow

Покажува податоци Bitcoin has continued to become increasingly tied to the US stock market as the crypto’s correlation with Nasdaq reaches a new all-time high.

Bitcoin’s Correlation With The Stock Market Continues To Go Up

Според најновиот неделен извештај од Истражување на аркани, the BTC-Nasdaq correlation has grown to a new ATH of over 0.8.

На "корелација” here is a measure of how the price of Bitcoin changes in response to movements in other assets like stock market equities.

When the value of this indicator is positive, it means BTC’s correlation with that asset is positive right now. This means that the crypto’s price is moving in the same direction as the asset’s.

On the other hand, a negative correlation implies that the price of the coin is responding to changes in the asset by moving in the opposite direction.

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A value of zero naturally suggests that there is no real correlation between BTC and the given equity at the moment.

Сега, еве табела што го покажува трендот во Bitcoin 30-day correlation with Nasdaq, S&P 500, DXY, and Златна во последните неколку години:

Како што можете да видите на горниот графикон, Bitcoin has been mirroring the stock market throughout this year as the correlation has only surged up in recent months.

The report notes that BTC’s correlation with Nasdaq was especially visible during last week’s FOMC. The value of the metric for the index has now reached a new ATH at around 0.8.

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The chart also shows that the cryptocurrency’s correlation with DXY and Gold has been negative during recent months.

As per the report, the growing institutionalization of Bitcoin may be the cause behind the increasing correlation with the stock market.

Investors have been treating the coin as a risk asset, and as long as this mindset continues and the stock market continues to struggle, BTC is likely to remain tied to Nasdaq and S&P 500.

БТЦ цена

Bitcoinцената plummeted down in the past week, reaching as low as below $30k yesterday. At the time of writing, the coin trades around $31.6k, down 19% in the last seven days.

Во текот на изминатиот месец, крипто изгуби 25% во вредност. Табелата подолу го прикажува трендот на цената на монетата во последните пет дена.

Оригинален извор: Bitcoinе