Crypto’s Correlation to Equities Dips Following All-time Highs in May
— Buy, Past six months, Turn around, 1 signals, Wave, Kaiko “ previous, Since retraced following, Inbox every evening, Current inflation levels, March 2020 crash — 1 min read
Bitcoin and ether prices have decoupled from their previous all-time high correlations with equities. In May, the correlation between bitcoin and the Nasdaq broke 0.8 for the first time. Experts say a rebound in stocks is expected to be good news for crypto prices. Analysts are not holding their breath for a stock market bounce anytime soon, especially with current inflation levels and uncertainty surrounding the Federal Reserve’s plans for interest rate increases, analysts say. Invesco's QQQ Trust, known as the Qs, is one tech-heavy ETF, Dan Matuszewski, co-founder of investment firm CMS Holdings said he's always keeping a close eye on stocks, he’m always watching. Source