In today’s letter: ✔️Bitcoin’s correlation with S&P 500 and Nasdaq hit new highs ✔️Powell: FED report on crypto and CBDCs is ready to go ✔️Bitcoin Magazine banned by YouTube ✔️Bitcoin’s correlation with S&P 500 and Nasdaq hit new highs Historically, Bitcoin used to maintain a low correlation to other risky assets such as stocks and commodities. However, during the last weeks the correlation between Bitcoin and the leading index - S&P 500 and Nasdaq - has been on a rise. On Wednesday the metrics hit their highest levels since July 2020 with 0.61 and 0.58 according to data from Kiako.
Daily Crypto Update 01/12/2022
Daily Crypto Update 01/12/2022
Daily Crypto Update 01/12/2022
In today’s letter: ✔️Bitcoin’s correlation with S&P 500 and Nasdaq hit new highs ✔️Powell: FED report on crypto and CBDCs is ready to go ✔️Bitcoin Magazine banned by YouTube ✔️Bitcoin’s correlation with S&P 500 and Nasdaq hit new highs Historically, Bitcoin used to maintain a low correlation to other risky assets such as stocks and commodities. However, during the last weeks the correlation between Bitcoin and the leading index - S&P 500 and Nasdaq - has been on a rise. On Wednesday the metrics hit their highest levels since July 2020 with 0.61 and 0.58 according to data from Kiako.