Bitcoin: Is The Tight Crypto Correlation a Boon or Bane?
Volatility from the crypto market has gradually been evaporating. In the second week of November, the reading of this index stood at the brink of 125. Post the progressive dip, the same was hovering around 72.2 at press time on Wednesday. Source: Investing.com Of late, crypto asset prices have been moving in tandem. Brief recoveries initiated by the leaders have been echoed by the rest of the pack. Similarly, corrections have also c OI ncided with each other. A recent report by Arcane Research highlighted, “ The crypto market has mostly traded as one coordinated organism in the last week, evident by all indexes trading in a very flat environment. “ The weekly returns of most cryptos currently stand in red. In fact, the performance of market-cap-weighted indexes further hints that the market is trading in consolidation. Highlighting the same, Arcane Research’s report noted, “ The overall flat market is likely caused by a trader exodus following the F...