What's driving crypto - BTC | ETH
Bitcoin Drivers
idiosyncratic | TOP DRIVER
Insights
26-08-2026
CONCEPT
Crypto is more than just social media pumps. Here we strip away the noise to track its fundamental drivers: sentiment, inflation or interest rates. Identifying which variable is in the driver’s seat allows for more disciplined, data-driven trading.
CURRENT READINGS
- Short-term: over the past four weeks, the daily relationship between Stock prices (rising) and the Bitcoin price (rising) has been irrelevant - their correlation is -0.02. Longer-term: for context, their one-year daily relationship has been present, if negative, with a correlation of -0.61.
MARKET IMPLICATIONS
- Recently, given the weak correlations with a number of key drivers, the cryptocurrency has moved in an independent fashion in the period, influenced by ad-hoc news and developments. the main influencing factor driving the Bitcoin price. Zooming out to last year, long-term bond yields, tightening on the back of growth and inflation expectations, have been. In general terms, the Bitcoin acts as a liquidity sponge and as a store of value. It positively tracks QE liquidity injections (with a lag), risk-on equity environments, a weaker USD, falling real yields.
Ethereum Drivers
idiosyncratic | TOP DRIVER
Insights
26-08-2026
CONCEPT
Refer to the intro above.
CURRENT READINGS
- Short-term: over the past four weeks, the daily relationship between Stock prices (rising) and the Ether price (rising) has been irrelevant - their correlation is -0.05. Longer-term: for context, their one-year daily relationship has been present, if negative, with a correlation of -0.61.
MARKET IMPLICATIONS
- Recently, given the weak correlations with a number of key drivers, the cryptocurrency has moved in an independent fashion in the period, influenced by ad-hoc news and developments. the main influencing factor driving the Ethereum price. Zooming out to last year, long-term bond yields, tightening on the back of growth and inflation expectations, have been. In general terms, the Ether acts as a yield-bearing utility asset. It positively tracks risk-on equity environments and lower yields.