1425 ET - Bitcoin, often seen as trading in tandem with tech and AI stocks, has diverged from equities in recent weeks--but there's evidence the correlation is returning. "The 10-day correlation with the Dow is close to turning positive, while the correlation with the S&P 500 is already slightly positive, although the relationship remains relatively weak for now," says Julian Pineda of StoneX. However, he notes that bitcoin may be following stock markets because of a lack of major economic data this week. Bitcoin is up 1% to $82,785, while ethereum rises 2.2% to $2,450, XRP climbs 2.3% to $1.33, and solana is up 2.2% to $106.70.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments