Data Shows Bitcoin Still Highly Correlated With Stock Market #togrp7

Data shows the Bitcoin correlation with the stock market has been high in recent months as the crypto has been closely following S&P 500 and NASDAQ. As per the latest weekly report from Arcane Research, while BTC has been more volatile than the stock market, the crypto’s movements have still been pretty close to the latter. In the year 2022 so far, both the stock market and Bitcoin have found it hard. However, year-to-date, BTC is down 51% while S&P is 14% and NASDAQ 22% into the red, much less than BTC’s losses. As you can see in the above graph, Bitcoin’s movements during the year so far have been all very similar to those of S&P 500 and NASDAQ.#togrp7

Leave a Reply

Your email address will not be published. Required fields are marked *