Following Bitcoin’s (BTC) latest price rally, the leading cryptocurrency’s correlation with tech stocks diverged further in June, indicating that crypto assets are increasingly charting their own course.
More specifically, the correlation between BTC and top US stocks tracked by the Nasdaq 100 stock market index plummeted to the lowest level in nearly three years in June, according to a blog post published by crypto research platform Kaiko on June 26.
At the moment, the correlation between the two asset classes stands at just 3% this month after Bitcoin strongly outperformed Nasdaq 100 over that period. In particular, the number one crypto coin gained almost 14% in June, compared to just 3% gains seen in the broader tech index.
BTC’s correlation with tech-heavy Nasdaq 100. Source: Kaiko
Compared to 2022, the move represents a steep drop in correlation, which stood at an average of 60% last year.
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We współpracy z: https://finbold.com/bitcoins-correlation-with-tech-stocks-falls-to-a-3-year-low/
