Analyst: Bitcoin's Correlation with US Stocks Lower than Gold, Small Caps, and US Treasuries
Over the past six months, Bitcoin's correlation with US stocks has been lower than that of gold, small-cap stocks, emerging markets, and US Treasuries. Analyst Eric Balchunas pointed out that Bitcoin's correlation with US stocks has remained around 0.4, while the correlation of gold and Treasuries with US stocks has significantly increased. This data refutes the claim that Bitcoin is merely a high-beta substitute for the Nasdaq 100 index.
-- Price
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