Bitcoin ETF

Zero

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-and-nasdaq-correlation-drops-to-zero/" data-wpel-link="internal">Bitcoin and Nasdaq Correlation Drops to Zero</a> 
The date when the SEC will decide on the United States’ first spot <a href="https://en.coin-turk.com/exploring-the-potential-uptrend-in-bitcoin-and-ethereum-prices/" data-wpel-link="internal">Bitcoin</a> ETF is rapidly approaching on January 10. The largest cryptocurrency’s price has been rising, fueled by heavy expectations of approval, leading to a significant change. Current data shows that the 40-day correlation between Bitcoin (BTC) and the world’s second-largest exchange, Nasdaq, is currently zero. 
<h2 style="text-align: justify" id="strong-correlation-peaked-at-0-8-in-2022-now-dropped-to-zero-strong">Correlation Peaked at 0.8 in 2022, Now Dropped to Zero</h2> 
Data indicates that the 40-day correlation between Bitcoin and Nasdaq is currently at zero, suggesting no relationship between the asset classes at the moment. The primary reason for the correlation dropping to zero is the high expectation of SEC approval for the US’s first spot ETF. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-299958" src="https://coin-turk.com/wp-content/uploads/2024/01/Bitcoin-Nasdaq-Korelasyon.jpeg" alt="" width="1622" height="924"> 
As is known, the correlation between Bitcoin and Nasdaq has been consistently positive since the beginning of 2020. During the harsh bear market of 2022, it had peaked at 0.8. 
<h2 style="text-align: justify" id="strong-correlation-between-bitcoin-and-nasdaq-strong">Correlation Between Bitcoin and Nasdaq</h2> 
Asset classes like Bitcoin and Nasdaq typically have different market dynamics, participant profiles, and underlying factors. However, correlations in <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">financial</a> markets can change over time and may tend to move similarly during certain periods. The correlation between Bitcoin and Nasdaq can sometimes show a tendency to be high, as it is currently showing a tendency to decline. 
A high correlation between Bitcoin and Nasdaq can indicate similar or interconnected price movements between the two assets. This situation can usually arise from similar risk perceptions in the markets, similarities in investor behavior, or general economic factors affecting both assets in the same direction. A high positive correlation suggests that Bitcoin and Nasdaq tend to move in the same direction. 
On the other hand, a low correlation indicates that Bitcoin and Nasdaq tend to move independently or in opposite directions. This situation can suggest that different market dynamics are at play between the two assets or that investors have different risk perceptions for these assets. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-and-nasdaq-correlation-drops-to-zero/" data-wpel-link="internal">Bitcoin and Nasdaq Correlation Drops to Zero</a></h5>

Bitcoin and Nasdaq Correlation Drops to Zero

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