Bitcoin’s Correlation With Gold-Backed PAXG Token Weakens to Record Low

“This reflects BTC’s increasing correlation with macro stock indices as well as its recent behavior as a risk asset rather than a store-of-value, and points to price turbulence ahead as markets digest the impact of further inflation and liquidity withdrawals,” Noelle Acheson, head of market insights at CoinDesk’s sister concern Genesis Global said. Source link

Nasdaq has dotcom crash ‘deja vu’ says trader as Bitcoin correlation rises

Bitcoin (BTC) and its stock market correlation are under fresh scrutiny amid a warning that the Dotcom Bubble is repeating itself in 2022. In a tweet on April 22, popular trader Peter Brandt highlighted similarities between the Nasdaq 100 (NDX) now and twenty years ago. “Deja vu all over again” Bitcoin has shown itself to […]

Bitcoin Sell-Off Deepens as Correlation with Stocks Rise

In a Monday newsletter, FundStrat, a global advisory firm, wrote that macro uncertainty could outweigh LFG’s reserve purchases. “Following previous LFG purchases, we witnessed a rise in realized market cap as other [traders] followed LFG’s lead,” the firm wrote. “However, realized market cap has remained flat since this latest purchase, indicating marginally less appetite for […]

BTC stocks correlation ‘not what we want’ — 5 things to know in Bitcoin this week

Bitcoin (BTC) starts the second week of April with a whimper as bulls struggle to retain support above $40,000. After a refreshingly low-volatility weekend, the latest weekly close saw market nerves return, and in classic style, BTC/USD fell in the final hours of Sunday. There is a feeling of being caught between two stools for […]

Bitcoin S&P 500 Correlation Means It Should Cost $18K, Says Analyst

Bitcoin (BTC) should cost $18,000 right now — or the S&P 500 must crash, says the analyst behind the model which predicts a BTC price of $288,000. In a series of tweets on June 17, PlanB, the creator of stock-to-flow (S2F) and stock-to-flow cross-asset (S2FX), highlighted a correlation between the largest cryptocurrency and the stock […]

Bitcoin’s Correlation With Stock Market May Spark Longest Bull Run in History

In a new report from Morgan Stanley’s Head of US Equity Strategy Michael Wilson, the analyst told investors that the stock market is showing similarities with the 2009 recovery that led to the longest bull run in history. Given Bitcoin’s recent correlation with the stock market, this could also result in an extended bull market for […]

Bicoin is a Better Store of Value as Gold’s Correlation With S&P 500 Rises to 18-Month High

Bitcoin rallied from $3,800 to $10,000 in two months of volatile trading. The maligned cryptocurrency outperformed its hedging rival Gold on a year-to-date timeframe. Gold underperforms as its correlation with the S&P 500 index grows to an 18-month high. Last week, bitcoin closed above $10,000 almost two months after crashing to below $4,000 in a […]

Breaking Down Bitcoin’s Unusual Correlation with Beyond Meat

With Bitcoin’s halving just one single day away, speculation points to a new bull market just ahead. However, in a bizarre correlation, BTCUSD has been tracking lock and step with the ebbs and flows of the per-share price of Beyond Meat, Inc.  Could the recent correlation be just a coincidence, or could it be a […]

Latest Bitcoin Halving Rally Puts Nail in Coffin on Stock Market Correlation

Since the February 2020 top, Bitcoin and the stock market have been tightly correlated. The correlation has crushed the cryptocurrency market over the last two months. However, Bitcoin’s pre-halving rally has caused a divergence that may be the final nail in that correlation’s coffin. Will the divergence sustain, or will BTC fall victim to the […]

Research Shows Inverse Correlation Between USDT on Crypto Exchanges and Bitcoin’s Price

Recent research shows that there is an inverse relationship between the percentage of the Tether (USDT) stablecoin on exchanges and Bitcoin’s (BTC) price. Cryptocurrency market insights firm Santiment published analysis showing that the percentage of USDT held on exchanges is inversely related to Bitcoin’s price. In a May 4 tweet, the firm noted that the […]