Cryptocurrency
Bitcoin’s correlation to stocks has declined significantly
As reported on The Block, “Bitcoin’s correlation to stock index S&P 500 has declined significantly, hinting that the two asset classes no longer move in the same direction. “The correlation between bitcoin and S&P 500, measured via BTC/USD on Coinbase and S&P 500 futures, has touched a two-month low. “The current correlation between the two asset classes […]
As reported on The Block, “Bitcoin’s correlation to stock index S&P 500 has declined significantly, hinting that the two asset classes no longer move in the same direction.
“The correlation between bitcoin and S&P 500, measured via BTC/USD on Coinbase and S&P 500 futures, has touched a two-month low.
“The current correlation between the two asset classes is 0.15, which means it is nearly negligible. About a month ago, on April 16, the correlation was moderately positive at 0.53…”