Kaiko analysts pointed to a weakening of bitcoin's correlation coefficient with Ethereum. The monthly average fell to 0.78 for the first time since November 2021.
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Analysts at Kaiko found that the correlation between bitcoin and Ethereum has weakened. The average monthly correlation has fallen to 0.78, the lowest value since November 2021. This means that the price movements of the two cryptocurrencies have become less connected and less predictable.
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