• Bitcoin’s 30-day correlation coefficient with TradFi bellwethers continued to be negative.
• Bitcoin’s volatility relative to gold has been declining steadily over the past few years.

Sentiment around crypto markets and traditional finance diverged dramatically over the last few months. Notably, developments in one sphere failed to impact the other.

How much are 1,10,100 BTCs worth today?

The world’s largest cryptocurrency, Bitcoin [BTC], showed increasing decoupling from popular stock indices like S&P 500, the Dow Jones Industrial Average and the tech-heavy Nasdaq 100, as per on-chain analytics firm IntoTheBlock.

Bitcoin’s 30-day correlation coefficient with these TradFi bellwethers continued to be negative.

#Bitcoin continues to demonstrate a negative correlation with traditional financial markets. Among major indices, the Dow Jones Industrial Average (DJI) shows the most significant negative correlation, registering at -0.8. For detailed insights visit: https://t.co/Wx8RxQwatF pic.twitter.com/Ze8x1yqmte

— IntoTheBlock (@intotheblock) August 4, 2023

On analyzing the recent price trajectories of the entities in question, it was evident that the digital assets and real-world assets were moving on separate wavelengths.

Bitcoin and equities diverge

The king coined has been sluggish lately, with the price at the time of publication being 0.76% lower than three months ago. The asset wa

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Author: Aniket Verma

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