News Formal

Bitcoin No Longer Correlated to U.S. Stocks, Crypto Analytics Firm Block Scholes Says

  • 📰 CoinDesk
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 63%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

The 90-day rolling correlation of changes in $BTC's spot price to changes in U.S. stocks has dropped to a two-year low, per BlockScholes. Reports godbole17.

The 90-day rolling correlation of changes in bitcoin's spot price to changes in Wall Street's tech-heavy equity index, Nasdaq, and the broader index, S&P 500, has declined to near zero. That's the lowest in two years, according to data tracked by crypto derivatives analytics firm Block Scholes.

"The fall in correlation has happened as both assets have retraced losses sustained throughout last year's tightening cycle," Melville added. Since BlackRock's filing on June 15, bitcoin has produced a return of 25%, ignoring the range bound activity in the U.S. stock indices.into three parts – frontrunning the launch, flows post-the-spot ETFs go live and validation of crypto as an asset class.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 291. in CA

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin, Ethereum Technical Analysis: ETH Nears $2,000, Ahead of US Independence Day – Market Updates Bitcoin NewsEthereum moved closer to $2,000 on Monday, as markets prepared for a short, but busy week of U.S. economic data.
Source: BTCTN - 🏆 531. / 51 Read more »