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Nasdaq-Bitcoin Correlation Rising Again

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Bitcoin and related instruments continue to retreat. The 20-day rolling correlation between BTC and Nasdaq futures is rising quickly - it hit 0.88 in early May (ie daily moves extremely highly correlated to Nasdaq returns), dropped to 0.30 in mid-June, and is now just under 0.60.


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Bitcoin and related instruments continue to retreat. The 20-day rolling correlation between BTC and Nasdaq futures is rising quickly - it hit 0.88 in early May (ie daily moves extremely highly correlated to Nasdaq returns), dropped to 0.30 in mid-June, and is now just under 0.60.


Keep reading...Show less