June 29 (Cointime) - The US GDP report exceeding expectations on June 28 has caused significant changes in the economic landscape. While the gold price has dropped below $1,900 due to investor sentiment influenced by robust economic performance, Bitcoin has charted a different course and surpassed the $30,600 level.
This has resulted in a significant drop in the correlation between the two asset classes, with the current Bitcoin-gold correlation standing at -0.89, indicating their independent market dynamics. CryptoSlate's latest market report explores the concept of yield convergence and its potential impact on Bitcoin.
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