The correlation between Bitcoin and U.S. tech stock indicators hit a two-year high, suggesting that the stock market's reaction to U.S. inflation data released later on Wednesday could set the tone for digital tokens. According to data compiled by Bloomberg, the 30-day correlation coefficient between the largest cryptocurrency and the Nasdaq 100 index is around 0.70. A correlation coefficient of 1 indicates that the asset is moving in unison, while a negative 1 indicates that the asset i...

The correlation between Bitcoin and U.S. tech stock indicators hit a two-year high, suggesting that the stock market's reaction to U.S. inflation data released later on Wednesday could set the tone for digital tokens. According to data compiled by Bloomberg, the 30-day correlation coefficient between the largest cryptocurrency and the Nasdaq 100 index is around 0.70. A correlation coefficient of 1 indicates that the asset is moving in unison, while a negative 1 indicates that the asset i...