Bitcoin

According to a new <a href="https://research.kaiko.com/insights/whats-driving-bitcoins-rally" rel="noopener noreferrer nofollow">report</a> from financial markets data provider Kaiko Research, the correlation between Bitcoin and the tech-heavy Nasdaq 100 has reached its lowest level in almost three years. The Nasdaq 100 tracks the performance of the largest and most actively traded non-financial firms listed on the Nasdaq stock exchange. Kaiko Research also tweeted that the correlation has plummeted to just 3% in June.since the FTX fiasco.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/b1323e3c6d2d4ec1b263aaa44834be58.png" />Dessislava Ianeva, a research analyst at Kaiko, commented that the decline in correlation is due to the significant impact of the recent regulatory environment on Bitcoin and other cryptocurrencies. She noted that tech equities have been relatively less affected in such a scenario.Ianeva also mentioned that many institutional investors in the market have already taken steps to reduce risk last year, which means they are unlikely to sell both cryptocurrencies and tech equities simultaneously. Kaiko&#39;s weekly data debrief stated that the volatility gap between crypto and tech stocks has reached its highest level since the FTX fiasco.Read full article at <a href="https://cryptotale.org/bitcoin-correlation-with-tech-equities-hits-three-year-low/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Bitcoin correlation with tech equities hits three-year low

CryptoTale

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