The thirty-day correlation coefficient between Bitcoin and the US dollar is -0.31

Bitget App

Trade smarter

Bitget

News

Cointime2023/10/30 04:54

By:Cointime

According to data from Tongbuke, on October 30th, the correlation coefficient between Bitcoin and cross-asset prices is as follows: The 30-day correlation coefficient between Bitcoin and the SP 500 is 0.28, with a weekly cumulative decline of 0.02. The 30-day correlation coefficient between Bitcoin and gold is -0.177, with a weekly cumulative decline of 0.003. The 30-day correlation coefficient between Bitcoin and the US dollar is -0.31, with a weekly cumulative decline of 0.13. Note: 1. A positive correlation coefficient value indicates a positive correlation; a negative value indicates a negative correlation. 2. A correlation coefficient value ≤ 0.5 indicates a low degree of correlation; 0.5 to 0.8 indicates a significant correlation; ≥ 0.8 indicates a high degree of correlation.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops

Lock your assets and earn 10%+ APR

Lock now!

- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.

Bitget-RWA•2025/09/12 06:14

FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

OPEN has dropped by 189.51% within 24 hours during a significant market pullback

- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.

Bitget-RWA•2025/09/12 06:14