Bitcoin, Ether Maintain Their 2023 Decoupling from Traditional Finance

📆 7/13/2023 6:49 PM
📰 CoinDesk

⏱ Reading Time:
21 sec. here
2 min. at publisher
📊 Quality Score:
News: 12%
Publisher: 63%

United States News News

United States United States Latest News,United States United States Headlines

Crypto Markets Analysis: As bitcoin and ether assert themselves as uncorrelated assets, the impact of macroeconomic catalysts has waned. GWilliamsJr_CMT reports

While maturing as uncorrelated assets, the number of addresses accumulating bitcoin and ether has increased.

As bitcoin investors find comfort in its emergence as a non-correlated asset, they’ve also had to watch as it reacts less to global macro catalysts than its Tradfi counterparts. BTC’s correlation with gold and the U.S. dollar is 0.33 and -0.23, respectively. The proximity to zero for both implies no pricing relationship at all, ironic given early perceptions of bitcoin as an inflation hedge.

Write Comment

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:

United States United States Latest News, United States United States 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: Bitcoin Pushes Towards $31,000 as US Inflation Is Expected to Fall – Market Updates Bitcoin NewsBitcoin moved towards $31,000 on Wednesday, ahead of June's inflation report from the United States. The CPI is expected to fall to 3.1%
Source: BTCTN - 🏆 531. / 51 Read more »

Bitcoin, Ethereum Technical Analysis: Bitcoin Consolidates Below $31,000, as Traders Digest Recent Economic Data – Market Updates Bitcoin NewsBitcoin retreated from recent gains on Thursday, as traders were unable to sustain a breakout of a key resistance level.
Source: BTCTN - 🏆 531. / 51 Read more »