Market Wrap: Bitcoin and Ether Close the Week Lower

Ten-year Treasury yield daily close: 3.45%Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index ; Ether is the CoinDesk Ether Price Index ; Gold is the COMEX spot price. Information about CoinDesk Indices can be found atEther outpaces bitcoin to the downside as the relationship between the two assets weakens.

The recent divergence in performance is illustrated in the decline in the two assets’ correlation coefficient to 0.77. ETH has been outperforming BTC for months, and the ETH/BTC trading pair rose 53% between July and September.“sell-the-fact” There are fundamental arguments as to why the correlation between the two assets should diminish. Ethereum’s conversion to a proof-of-stake consensus mechanism puts in place a distinctly different method of securing the network than exists with Bitcoin.

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Market Wrap: Ether Trades Relatively Flat Ahead of Ethereum MergeMARKET WRAP: In the final hours before the Ethereum blockchain Merge, ether was flat. Investors will be watching whether the transition from a proof-of-work to proof-of-stake protocol succeeds. GWilliamsJr_CMT and _jocelynyang_ report
Source: CoinDesk - 🏆 291. / 63 Read more »