K33 Research: The correlation between Bitcoin and the US stock market has reached its highest level in 18 months

2024-06-11 22:54:20

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ChainCatcher news, data from K33 Research shows that bullish offshore traders' current Bitcoin positions are in a loss state over the past two weeks, putting the market at risk of a potential short squeeze.

Analysts point out that after the record 19-day net inflow for the U.S. spot Bitcoin ETF came to an end, the correlation between Bitcoin and the U.S. stock market has reached its highest level in 18 months, with the 30-day correlation coefficient between Bitcoin and the Nasdaq rising to 0.64 for the first time since 2022 last week.

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