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No, Tech Stocks Aren’t Driving Crypto Prices

No, Tech Stocks Aren’t Driving Crypto Prices

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Yet the narrative of bitcoin offsetting the devaluing greenback is even weaker than the one about it being a tech-related funding. The correlation coefficient between bitcoin and the U.S. Dollar Index is simply -0.13. Against U.S. bonds, represented by the iShares 20+ Year Treasury Bond ETF (TLT), it’s simply -0.02. In different phrases, no relationship in any respect.

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