Data shows the crypto market has become highly correlation again in the past week as all indexes have been closing following Bitcoin.
All Market Cap Weighted Crypto Indexes Have Been Moving Together Recently
According to the latest weekly report from Arcane Research, the 30-day ETH-BTC correlation now has a value of 0.95.
To assess the performance of the different portions of the market as a whole, the coins are divided into the “crypto indexes.” The criteria for putting any asset into an index is using its market cap.
The “market cap” here simply refers to a measure of the total worth of a cryptocurrency’s entire circulating supply.
There are three main categories of indexes: the “large caps,” the “mid caps,” and the “small caps.” As