#BTCvsMarkets
Evolving Correlation Trends
đHistorical Correlation
Since the COVID-19 downturn, BTC and the Nasdaq 100 often traded in tandem, with 30-day correlations regularly above 70%.
A Standard Chartered study earlier this year pegged BTCâs correlation with tech stocks at ~0.8âextraordinarily high by historical standards
đRecent Breakdown
Santimentâs divergence coefficient between BTC price and the S&P 500 fell from 0.16% on April 2 to just 0.083% by mid-April, signaling near-zero correlation.
Bloomberg analysts note that Bitcoinâs value has increased about 1% intraday while the Nasdaq 100 weakened, evidence that BTC is breaking free from its former equity tether.
