Nasdaq Rate Has More Impact on Ethereum Than BTC

 

The yearly cycle shows that the correlation between Nasdaq and Ethereum moving averages is around +0.2, i.e., when the securities of the representatives of the technology sector go up, Ethereum also shows a positive trend.

As you know, in past years ВТС showed the greatest correlation with the Nasdaq rate, but apparently the trend has begun to change. Experts suggest that this is due to the higher volatility of bitcoin relative to ETH.

At the same time, over the past year, the volatility of ETHBTC has fallen to 30%, while this figure for the BTCUSD pair exceeds 50%.

Interestingly, the US currency has the opposite effect. If the dollar index rises relative to the TOP-10 basket, then the two leading cryptocurrencies tend to decrease. The correlation, as in the case of Nasdaq, is also small, but it is negative.

With regard to the rest of the leading exchange assets: hydrocarbons, gold, metals, etc., the relationship with the crypto market is not visible.

 

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