The correlation between Bitcoin (BTC) and US stocks dropped to almost their lowest level, while the correlation with Chinese stocks increased sharply.
Digital asset data provider Kaiko May 29 In the research report published on the official website on bitcoin And Chinese stock index CSI 300 between correlation since the beginning of the year getting stronger conveyed. correlation, China’s indirect against cryptocurrency markets conciliatory attitudes with increase appeared to show.
According to the data CSI 300 And bitcoin between correlation of february finally to the lows down negative As of April, although it is observed in the region, 40% approached their level. in the same period USA stock index S&P500 between Bitcoin and correlation of the year lowest regression to the level was remarkable.
of china Hong Kong indirectly against the opening of crypto money through support has a great effect on increasing the correlation. It was suggested that it was.
Also in Hong Kong Clarity of regulatory actions will come from the Asian market as it starts to earn important One your request in front of you can be opened specified. In light of the data revealed in the FTX crash bankruptcy user base of the exchange 11% Chinese And Hong Kong customers While it is noted that it creates your request a new market that you can accelerate underlined.
variety of china government companies Cryptocurrency market in Hong Kong in financial support Although there are cryptocurrencies in the domestic market of the country, The bans continue.
Coinecko according to data 30 days in 5.1% depreciation bitcoin, 0.4% drop by living writing 27,817 traded at the dollar level.
