Bitcoin's price now correlates more strongly to copper futures than to traditional equity indexes.
Why has traditional equities’ relationship with copper weakened over the last two months? As early as Oct 6, the S&P 500’s correlation was as high as 0.86 before falling to its current level of 0.14. Given the decoupling and the price of copper itself, traders may be expecting a reversion to equities, and may place trades accordingly.
GWilliamsJr_CMT Breaking News
GWilliamsJr_CMT Wow. Copper S2F ratio is less than 1, Bitcoin’s is currently on par with gold (~50) and approaches infinity over time. Why these two would be correlated is beyond me.
GWilliamsJr_CMT You’d have to be crazy to take a short term outlook on a wild asset like Bitcoin.
GWilliamsJr_CMT What the fuck ?
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