Data shows that Bitcoin’s correlation with Nasdaq has fallen to the lowest since December 2021 as BTC continues its strong momentum.
Bitcoin’s 30-Day Correlation With Nasdaq Plunges To Just 0.29
According to the latest weekly report from Arcane Research, movements in US markets are becoming less relevant to BTC. The “30-day correlation” is an indicator that measures how closely Bitcoin and another given asset performed during the past month.
When the value of this metric is positive, it means BTC has been responding to changes in the price of the other asset by moving in the same direction. On the other hand, negative values imply BTC has been displaying opposite price action relative to the asset.
Naturally, the correlation is precisely equal to zero, suggesting the prices of the two assets aren’t tied in any shape.
Now, here is a chart that shows the trend in the 30-day correlation between Bitcoin and Nasdaq over the last couple of years:
As displayed in the above graph, t
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