Bitcoin and Nasdaq Diverge in June: BlackRock's ETF Filing Spurs Correlation Drop to 3% - Trade Oracle

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Bitcoin and Nasdaq Diverge in June: BlackRock’s ETF Filing Spurs Correlation Drop to 3%

June has seen Bitcoin and Nasdaq part ways, with the correlation between the two dropping to a mere 3%. This shift has been spurred by BlackRock’s filing for a Bitcoin ETF, creating a new wave of speculation and excitement in the crypto markets. Investors are now eager to see if the ETF will be approved and how it will affect the market.

BlackRock’s ETF Filing Spurs Bitcoin and Nasdaq Divergence

As institutional investors continue to show interest in Bitcoin and other cryptocurrencies, BlackRock’s filing of a spot Bitcoin ETF on June 15 may have been the catalyst for a divergence in sentiment between Bitcoin (BTC) and the Nasdaq in June 2021, according to data from Kaiko. The filing by BlackRock, the world’s largest asset manager, was seen as a sign of increasing institutional acceptance of Bitcoin as an asset class and a possible indicator of further mainstream adoption. The filing sent Bitcoin prices soaring, with BTC closing at an all-time high of $37,917 on June 17. As a result, the divergence between Bitcoin and the Nasdaq began to emerge, with Bitcoin prices continuing to rise while the Nasdaq fell. Kaiko data shows that the two assets moved in opposite directions for the majority of the month, with Bitcoin up 7.4% and the Nasdaq down 4%. As institutional investors continue to show increased interest in cryptocurrencies, BlackRock’s filing of a spot Bitcoin ETF on June 15th may have been the catalyst for a divergence in sentiment between Bitcoin (BTC) and the Nasdaq in June 2021, according to data from Kaiko.

Institutional Interest in Crypto: A Catalyst for Correlation Drop

As institutional investors continue to show an increasing interest in cryptocurrencies, the correlation between Bitcoin (BTC) and the Nasdaq dropped to 3% in June 2021, according to data from Kaiko. In this blog post, we explore the potential implications of this sudden decrease in correlation and what it could mean for the future of crypto markets. The institutional interest in crypto has been steadily increasing over the past few years, and this surge of interest has had an interesting effect on the correlation between Bitcoin (BTC) and the Nasdaq. While the two markets have traditionally been closely linked, the correlation between them dropped to 3% in June 2021. This sudden decrease could indicate a shift in the way institutional investors are viewing cryptocurrencies, and could be a sign of a more mature market. Furthermore, it could also lead to a more diverse range of investment opportunities for institutional investors. As institutional investors continue to flock to the crypto markets, the correlation between Bitcoin (BTC) and the Nasdaq dropped to a historic low of 3% in June 2021, according to data from Kaiko. In this blog post, we will explore the implications of this sudden decrease in correlation and what it could mean for the future of the crypto market.

June 2021: Bitcoin and Nasdaq Correlation Drops to 3%

As institutional interest in Bitcoin and other cryptocurrencies continues to grow, June 2021 has seen a sharp drop in the correlation between Bitcoin (BTC) and the Nasdaq to 3%, according to data from Kaiko. This article will explore the implications of this sudden divergence and what it may mean for the future. The correlation between Bitcoin and the Nasdaq has been closely monitored since the latter’s rise in 2020. While the two have been closely linked in the past, June 2021 has seen a significant drop in the correlation between the two to just 3%. This is a marked decrease from the 14% correlation observed in April 2021.The sudden decrease in correlation could be a sign of Bitcoin becoming more independent from traditional markets. This could be a positive sign for the cryptocurrency as it suggests that the asset is becoming more attractive to institutional investors. It could also be a sign that Bitcoin is emerging as a viable alternative to other investment options, such as the Nasdaq. As institutional interest in Bitcoin and other cryptocurrencies continues to rise, June 2021 has seen a dramatic decrease in the correlation between Bitcoin (BTC) and the Nasdaq to just 3%, according to data from Kaiko. This article will explore the implications of this sudden divergence and what it may mean for the future.

With institutional investors increasingly showing interest in cryptocurrencies, it is possible that the correlation between Bitcoin (BTC) and the Nasdaq may continue to decrease as the asset class matures. This could open up a new world of investment opportunities for institutional investors and lead to a more diverse range of investment opportunities. With BlackRock’s filing of a spot Bitcoin ETF on June 15th, the correlation between Bitcoin (BTC) and the Nasdaq has dropped to a historic low of 3%. This sudden decrease could be indicative of a shift in how institutional investors view cryptocurrencies, and could be a sign of a more mature market. As institutional investors continue to flock to the crypto markets, it will be interesting to see how this newfound independence of Bitcoin shapes the future of the cryptocurrency markets.

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