Reported about 1 month ago
As Bitcoin and other major cryptocurrencies brace for impact from a forthcoming US jobs report, their correlation with the stock market continues to rise. Current data shows a 30-day correlation coefficient near 0.60, suggesting that Bitcoin's movement is closely tied to equities. Investors await the report amid uncertainties regarding economic slowdown and Federal Reserve interest-rate adjustments. Bitcoin is currently trading around $56,653, significantly below its all-time high.
Source: YAHOO