These factors are causing a rise in BTC, ETHs correlation with the stock market - BitcoinEthereumNews.com
स्रोत: बिजनेस इनसाइडर However concerning the trend may have been earlier, its unparalleled acceleration since August 2021 has sent many into a dizzy. Over the past month, Bitcoin has fallen 12% against the dollar, while the S&P has gone down 10%, indicating that the gap between both is narrowing with each crash. Martin Green, CEO of Cambrian Asset Management noted the same in a recent Forbes interview, highlighting that while the Bitcoin-Nasdaq correlation was 0.2 over the last three years, “in the last several weeks, it has doubled to around point four.” He added, “There is a higher correlation today than there was six months ago… I would say that recently along the two axis – up and down – Bitcoin and tech stocks are in tandem because of interest rates and inflation concerns that have affected stocks and crypto.” Safe haven no more Crypto and tech stocks moving in tandem could cause many hurdles to global finance, as pointed out by the International Monetary Fund (IMF) recently. Among these include the risk of contagion that could cause investor sentiment to spillover between markets. A spillover can also be noted between crypto assets, as a similar correlation between the second-largest cryptocurrency Ether, and the S&P 500