Bitcoin's relationship with the U.S. Dollar Index returns to form, with macroeconomic factors continuing to drive crypto prices, writes GWilliamsJr_CMT
bitcoin and ether’s correlations with different assets, and the extent to which they’ve sustained, or changed over time.
The measuring stick is the correlation coefficient, ranging from -1 to 1. A coefficient of 1 implies a direct pricing relationship, with a coefficient of -1 indicates a completely inverse relationship. Other correlations we’ve been tracking include bitcoin’s relationships to equities, metals, energy and the U.S. Dollar Index :What stands out besides BTC’s reliable correlation to ETH is the persistently inverse relationship to the DXY.
For traders, the consistently positive relationship between BTC and ETH, and the equally consistent inverse relationship between BTC and DXY, presents an opportunity should those correlations stray from their norms.
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