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 correlationMore from Undefined (@Undefined):