ETH-BTC Correlation Hits Three-Year Low, Influencing Trading Strategies

11/19/2024 3:58:44 PM

According to @ki_young_ju, Ethereum (ETH) is showing a decreasing correlation with Bitcoin (BTC), as the 180-day Pearson correlation between the two has reached a three-year low. This suggests that a 10% increase in Bitcoin's price might only lead to a 3% gain in Ethereum's price. Traders should note that the strength of Bitcoin does not necessarily imply a similar movement in Ethereum, indicating that each asset is now following its own path. (Source)

Bitcoin Ethereum Pearson correlation

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