Bitcoin’s correlation with the U.S. equities market has been rising for more than a month, as seen in the collective plunge and rally across different asset classes during the Japanese yen crisis earlier this month and the Federal Reserve’s statements at the Jackson Hole symposium last week.
According to the recent edition of the Bitfinex Alpha report, the Pearson Correlation metric, which measures the relative correlation of bitcoin (BTC) with the S&P 500 and the NASDAQ, shows an increase in the 30-day correlation between the assets. This rise began on July 12; however, BTC has been relatively weaker than the indexes since the August 5 capitulation low during the yen crisis.
Bitcoin’s Rising Correlation With Equities
Following Fed chair Jerome Powell’s statements at the Jackson Hole symposium on August 23, BTC, the entire crypto market, stock market indexes, and risk assets rallied significantly, continuing the recovery seen since early August. The surge could be attribute
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