Mining sector stocks increase stronger than Bitcoin
In addition to technical indicators, Alphractal also pays attention to the correlation between the stock prices of cryptocurrency mining companies and the market capitalization of Bitcoin – a metric regarded as 'leading' but often overlooked.
Notably, many mining sector stocks are rising faster than BTC. Among them, Iris Energy (IREN) has increased its market capitalization from 1.2 billion USD to over 4 billion USD in a short period.
However, the declining correlation between BTC and this group of stocks may be a sign that strong fluctuations are about to occur in the market.
