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"Bitcoin continues to diverge from stocks and gold…Could be a sign of a sharp rise"
Uk Jin
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- Analyst PlanB stated that Bitcoin prices have recently significantly deviated from their historical correlations with the stock market and gold.
- He said that in the past there were cases where Bitcoin deviated from correlations with traditional assets and afterward showed a sharp rise.
- But it is not certain whether the same pattern will repeat this time, and PlanB mentioned that the correlation may either recover or break completely.
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Bitcoin (BTC) prices have significantly deviated from their historical correlations with the stock market and gold prices.
On the 27th (Korean time), well-known crypto analyst PlanB analyzed on X (formerly Twitter), "Bitcoin has currently significantly deviated from its historical correlations with the S&P500 and gold."
He mentioned, "In the past, there were cases where Bitcoin deviated from correlations with traditional assets, and at those times a significant surge followed." However, he added, "It cannot be concluded that the same trend will repeat this time."
PlanB said, "The correlation may recover, but conversely there is also a possibility that it will break completely this time," and "Only time will tell the result."
