Quick Take
- In 2022, U.S. equities and Bitcoin were joined at the hip due to unprecedented rate hikes from central banks worldwide.
- A strong correlation occurred until FTX collapsed in November 2022, which saw Bitcoin diverge with equities. However, this was short-lived and not a natural divergence.
- As 2023 begins, Bitcoin has continued to diverge away from S&P 500, Dow Jones Industrial Average, and Nasdaq.
- Currently, Bitcoin is in a negative correlation with S&P 500 (-0.38), Nasdaq (-0.21), and DJI (-0.38).
The post Bitcoin continues to diverge away from U.S. equities, second most uncorrelated period in over a year appeared first on CryptoSlate.
