What's driving crypto - BTC | ETH
Bitcoin Drivers
Insights
CONCEPT
When the market moves, crypto usually moves faster. To trade it well, investors need to know why it’s moving, what is driving the price right now - if it is a random spike or a tactical signal? This dashboard overlays BTC and ETH against stocks, bonds, or is it sentiment and global events (measured via policy uncertainty) to show you which force has the steering wheel right now.
CURRENT READINGS
- Short-term: over the past four weeks, the daily relationship between Stock prices (rising) and the Bitcoin price (rising) has been robust - their correlation is 0.91. Longer-term: for context, their one-year daily relationship has been irrelevant with a correlation of -0.56.
MARKET IMPLICATIONS
- Recently, market sentiment in tech stocks (via the Nasdaq 100) has been the main influencing factor driving the Bitcoin price. Zooming out to last year, market sentiment in stocks (via the S&P 500) has been
Ethereum Drivers
Insights
CONCEPT
When the market moves, crypto usually moves faster. To trade it well, investors need to know why it’s moving, what is driving the price right now - if it is a random spike or a tactical signal? This dashboard overlays BTC and ETH against stocks, bonds, or is it sentiment and global events (measured via policy uncertainty) to show you which force has the steering wheel right now.
CURRENT READINGS
- Short-term: over the past four weeks, the daily relationship between Stock prices (rising) and the Ether price (rising) has been mild - their correlation is 0.41. Longer-term: for context, their one-year daily relationship has been weak with a correlation of 0.00.
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, there was no difference, as independent, unrelated fluctuations have been a trait of the entire period