Bitcoin (BTC) and ether (ETH), the world’s top two cryptocurrencies by market value, moved in tandem for much of 2022. That positive relationship has weakened this year, signaling an impending regime change in the market.
As of Monday, the 30-day rolling correlation between changes in bitcoin and ether prices was 77%, the lowest since 2021 and notably weaker than 96% seen two months ago, according to crypto data provider Kaiko.
Ether, in the past, has decoupled from bitcoin for brief periods. The latest weakening of correlation may be long-lasting, meaning bitcoin, the world’s largest and most liquid digital asset, may no longer anchor ether and the broader market, according
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!