Web Analytics
Sunday, December 22, 2024

Bitcoin and S&P 500 Correlation Hits Record High Since 2020

The volatility of the first cryptocurrency fell to a minimum in more than a year, Arcane Research analysts say

The correlation between the Bitcoin exchange rate and the S&P 500 index has reached a record high since October 2020, according to the analytical company Arcane Research. Analyst research results indicate that 30-day volatility is at its lowest level in more than a year (2.5%) as bitcoin trades in a tight range.

S&P 500 (Standard & Poor’s 500 Index) is an American stock index that reflects the dynamics of the stock price of the 500 largest companies by market capitalization in the US market.

According to Arcane Research, Bitcoin trading volumes have also fallen to their lowest level since July 2021. The highest activity (43% of BTC trading volume) occurs during the opening hours of the US stock market.

On January 19, Bitcoin is trading at $41.9 thousand. Over the month, the cryptocurrency has fallen in price by 10%, and its capitalization has decreased to $795 billion, according to CoinGecko.

Related Articles

Stay Connected

3,477FansLike
4,500FollowersFollow
1,200FollowersFollow
3,912FollowersFollow
1,222SubscribersSubscribe

Latest Articles

Random