Scan to Download Gate App
qrCode
More Download Options
Don't remind me again today

The correlation between Bitcoin and US tech stocks has reached a new high since 2022.

robot
Abstract generation in progress

On November 17, The Kobeissi Letter reported that the correlation between Bitcoin and the Nasdaq 100 index reached approximately 0.80 over a 30-day period, the highest level since 2022. This is also the second highest reading in nearly 10 years. It is reported that over the past 5 years, the correlation between the two has remained positive, with a brief fluctuation occurring in 2023. Therefore, the 5-year correlation between Bitcoin and the Nasdaq index has reached 0.54. In contrast, the correlation between Bitcoin and cash and gold is essentially zero. Bitcoin's performance increasingly resembles that of a leveraged tech stock.

BTC-0.76%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)