K33 Research: The correlation between Bitcoin and US stocks has reached its highest level in 18 months
According to K33 Research shows that offshore traders who have been bullish for the past two weeks are currently in a losing position, posing a potential risk of long position squeeze in the market. At the same time, the correlation between Bitcoin and the US stock market has reached its highest level in 18 months, after the record-breaking 19-day net inflow of the US spot Bitcoin ETF ended. Last week, the 30-day correlation coefficient between Bitcoin and Nasdaq increased for the first time since 2022 to 0.64.
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