{"id":135680,"date":"2024-08-16T14:30:42","date_gmt":"2024-08-16T11:30:42","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=135680"},"modified":"2024-08-16T13:02:41","modified_gmt":"2024-08-16T10:02:41","slug":"is-bitcoin-losing-correlation-with-traditional-markets","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/is-bitcoin-losing-correlation-with-traditional-markets\/","title":{"rendered":"Is Bitcoin Losing Correlation With Traditional Markets?"},"content":{"rendered":"

Schiff commented on<\/strong><\/a> Bitcoin\u2019s sudden drop of over 5% in a short period of time. This sharp drop occurred simultaneously with the stock market rally, where the S&P 500 closed 1.61% higher at 5,543.22 and the tech-heavy Nasdaq Composite rose 2.34%, ending at 17,594.50.<\/p>\n

The economist contrasted Bitcoin\u2019<\/strong><\/a> s decline with gold\u2019s performance, noting that while gold initially pulled back, it later reversed direction and finished with gains. He noted that gold\u2019s gains could have been more significant had investors not misinterpreted the day\u2019s economic data.<\/p>\n

Over the past month, Bitcoin has shown a growing correlation with the stock markets. According to The Block, its 30-day Pearson correlation coefficient with the S&P 500 has increased to 0.28, up from -0.81 in the previous month.<\/p>\n