The post Decoupling Finally? Why Crypto Is Up 2.57% While Stocks Are Down Today appeared first on Coinpedia Fintech News
While equity markets took a beating and Brent crude surged above $100 per barrel for the first time since 2022, crypto is doing the opposite. Escalating Middle East tensions and a blockage in the Strait of Hormuz sent traditional risk assets into freefall, yet the total crypto market cap climbed 2.57% to $2.46 trillion on March 13.
Bitcoin is sitting at $72,479, up 2.91% in 24 hours. Ethereum at $2,127, up 2.72%. On a day when almost nothing else was green, this is interesting.
The Correlation Data Is the Real Story
Crypto’s correlation with the S&P 500 currently sits at -14%, and against Gold it’s -34%. That is evidence that this rally wasn’t carried by broad market optimism.
Intergovernmental Blockchain advisor Anndy Lian noted that “digital assets are beginning to trade on their own fundamental narratives,” arguing this kind of independe
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