Bitcoin BTC Price, Ether ETH Price Maintain Their 2023 Decoupling from Traditional Finance TradFi
Bitcoin’s correlation coefficient with the S&P 500, Dow Jones Industrial Average (DJIA), and Nasdaq Composite has declined 50.5%, 30%, and 49.4% respectively since Jan. 1. Correlation coefficients range from -1 to 1, with the former indicating an inverse pricing relationship, and the latter indicating a direct one.