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Crypto index correlation with BTCUSD
Looking at the graph it is clear we are still trying to recover. in the pas, when BTC is struggling most of the remaining coins start to correlate in a high degree with BTCUSD. This graph shows the correlation against 9 other large coins. This graph is based on my previous top 10 index chart, minus BTC this time.
When bitcoin starts to recover the market will go back to normal and stop correlating consistently over time.
The indicator i have used bellow is called Bitcoin Correlation Indicator, over 5 periods.
When bitcoin starts to recover the market will go back to normal and stop correlating consistently over time.
The indicator i have used bellow is called Bitcoin Correlation Indicator, over 5 periods.
Nota
You can see it on higher resolution timeframes as well. Also when bitcoin seemed to start to recover earlier on the 26-27 the correlation dipped, before BTCUSD went back down again and correlation continued to remain high.Nota
The market is finally starting to show signs of healing:
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As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.