@BOMBERuss 19 April 2022 more from that month

The #correlation between #bitcoin and the Nasdaq Composite index has peaked since July 2020. These observations were shared by Arcane Research analysts. A similar indicator (30-day moving average) between the first #cryptocurrency and gold collapsed to a historic low, with the dollar — to the lowest since March 2020. Experts explained such dynamics with expectations of tightening of the Fed's monetary policy. The #dollar strengthened against other currencies amid forecasts of less aggressive actions by the Central Bank of other countries in response to inflation. An increase in the cost of borrowing leads to a downward revision of the growth trajectory of shares of high-tech companies. The growth of the price relationship between bitcoin and the Nasdaq Composite index reflects the belonging of digital gold to the category of risky assets in the eyes of institutional investors, experts stressed. They doubted that the correlation would remain at the current such high values. Gold currently serves as a hedge against inflation, while bitcoin-ETP fix the outflow of funds. In the first two weeks of April, their AUM decreased by 9871 BTC. While maintaining the current pace, the historical anti-record of July 2021 will be updated by the end of the month, when investors withdrew 13,849 BTC. The current dynamics may indicate the upcoming formation of the bottom in the medium term. Experts recalled that the negative dynamics of flows to funds last summer coincided with the completion of the correction in digital gold. Earlier, Galaxy Digital founder Mike Novogratz warned that the first cryptocurrency will "take off again" as soon as the Fed takes a pause in tightening monetary policy