Bitcoin's Correlation to U.S. Equities and Ether Weakens: Van Straten

Quick Summary:

The total cryptocurrency market hits a new all-time high of $3.025 trillion as bitcoin consolidates around $92,000.

However, on a 30-day rolling correlation, bitcoin and ether now just have a 0.35 correlation, which is the second lowest recorded level.

Second is how major assets are correlated with the S&P 500; bitcoin has only a 19% correlation with SPX, a relatively small correlation.

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Article Details

Author / Journalist: James Van Straten

Category: Crypto

Markets: United StatesCuba

Topics: Markets News Ether Bitcoin Nasdaq

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-18 @ 10:53:43 (2 weeks ago)

News Timezone: GMT -5:00

News Source URL: coindesk.com

Language: English

Article Length: 982 words

Reading Time: 6 minutes read

Sentences: 47 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinDesk

News ID: 23656437

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Main Topics: Crypto

Official Website: coindesk.com

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News Last Updated: 6 days ago

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