Correlation Between Bitcoin, US Stocks Hits Lowest Level in 2 Years: Analysts
The correlation between Bitcoin's spot price and the US stock market indices, Nasdaq and SP 500, has reached its lowest level in two years. This decline in correlation suggests that Bitcoin's fortune is no longer tied to sentiment in the stock markets. The recent filings for Bitcoin exchange-traded funds (ETFs) by major financial institutions have brought optimism to the crypto market, leading to increased investor interest in ETFs.
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Correlation Between Bitcoin, US Stocks Hits Lowest Level in 2 Years: Analysts
The correlation between Bitcoin's spot price and the US stock market indices, Nasdaq and SP 500, has reached its lowest level in two years. This decline in correlation suggests that Bitcoin's fortune is no longer tied to sentiment in the stock markets. The recent filings for Bitcoin exchange-traded funds (ETFs) by major financial institutions have brought optimism to the crypto market, leading to increased investor interest in ETFs.