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Market Cap:
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cryptonews
2023-03-20 23:54:00

Bitcoin’s Correlation to US Stocks Hits 20-month Lows - Here’s Why That’s Bullish for BTC

Bitcoin’s Correlation to US Stocks Hits 20-month Lows - Here’s Why That’s Bullish for BTC

Bitcoin’s correlation to US equity markets just fell to its lowest level in more than a year and a half. That’s according to crypto analytics firm CoinMetrics, who present a chart showing that Bitcoin’s 30-day pearson correlation between Bitcoin and the S&P 500 just fell under 0.20, its lowest level since September 2021. That’s a big reversal from mid-2022, when Bitcoin and stocks were largely moving in lockstep and the 30-day correlation briefly surpassed 0.7.... Read More: Bitcoin’s Correlation to US Stocks Hits 20-month Lows - Here’s Why That’s Bullish for BTC

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