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Crypto prices are moving in lockstep with traditional markets — here’s what that means for investors
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fnlondon.comCryptocurrency prices are moving in lockstep with stocks and bonds like never before, punishing those who bought bitcoin and other digital assets in part to diversify their investment holdings.
The three-month correlation between the cryptocurrencies bitcoin and ether and the major US stock indexes hit its highest level on record last week, according to Dow Jones Market Data. That level, between 0.67 and 0.78, is more than triple the average correlation between crypto and the S&P 500 from 2019 to 2021. A correlation of 1 suggests...
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