Fast Take
- Because the market digests all of the uncertainty from the banking fallout, equities such because the S&P 500 stay flat for March.
- In current weeks, in mild of the SVB collapse, Bitcoin had uncorrelated itself from the normal markets.
- Bitcoin was up 24%, different property remained comparatively flat, and gold was additionally a winner.
- However in current days, the correlation to property has spiked again as much as nearly February ranges.
- Bitcoin has a detrimental relationship with the greenback, which might be bearish if the greenback was to start out going increased within the face of a liquidity or credit score disaster as buyers rush to {dollars}.
- Correlation is a subject CryptoSlate will likely be analyzing on a day-to-day foundation amid market uncertainty.
Correlation YTD
- SPX: 0.74
- Nasdaq: 0.92
- Gold: 0.95
- TLT: 0.50
- DXY -0.81
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