JPMorgan: Bitcoin ETF Price/Flow Correlation is Declining
JPMorgan analyst Ken Worthington stated in a report to clients that the correlation between the price of Bitcoin ETFs and their flow of assets is decreasing. On Wednesday, the correlation between the two asset classes dropped to 0.60, lower than the 0.78 recorded on February 7th and the 0.84 on January 31st. Worthington noted that a figure above 0.70 is considered "highly correlated," while a figure below 0.70 is considered "moderately correlated." Currently, it appears that fund flows are following price movements, as the significant increase in Bitcoin's price in early February led to a substantial influx of funds into ETFs. The recent price stability over the past few trading days may be a triggering factor for a slowdown in fund inflows.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Trending news
MoreThe Philadelphia Gold and Silver Index, traded during US stock market hours, closed down 5.40% at 383.94 points, with a cumulative decline of 7.12% this week, experiencing an overall pullback after an initial surge.
On Friday (March 13), at the close of trading in New York, spot gold fell by 1.13% to $5,022.17 per ounce, down 2.90% for the week, overall surging and then retreating.
Crypto prices
More
