quick take
- Stocks such as the S&P 500 remained flat in March as the market digested all the uncertainty from the banking impact.
- In recent weeks, Bitcoin has lost its correlation with traditional markets in light of the SVB collapse.
- Bitcoin was up 24%, other assets were relatively flat, and gold was also a winner.
- In recent days, however, the correlation with assets has surged to near February levels.
- Bitcoin has a negative relationship with the dollar and will be bearish when investors flood the dollar and the dollar begins to rise in the face of liquidity and credit crises.
- Correlation is a topic CryptoSlate analyzes daily in the midst of market uncertainty.
Correlation year-to-date
- SPX: 0.74
- Nasdaq: 0.92
- Gold: 0.95
- TLT: 0.50
- DXY -0.81
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