Bitcoin correlations report, May 2024

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	Forwarded this email? Subscribe here for more Underpriced all the way down: a pattern in Bitcoin’s correlations Bitcoin correlations report, May 2024 Ecoinometrics May 22 ∙ Preview   READ IN APP   If you are an optimist (I am) there are a lot of things to like in this market setup.  It goes like that: The NASDAQ 100 is on the rise. Bitcoin is chasing the NASDAQ 100. The miners are chasing Bitcoin. Ethereum is chasing Bitcoin. That means in terms of correlations, betting on mean reversion right now is good timing. Let's see what we are talking about with a few charts. The Ecoinometrics newsletter gives you insights from crypto and macro data to help you make better investment decisions.  We spend hours every day gathering data, creating metrics and bringing them to life with data visualizations that allow you to quickly get to the heart of things. We then distill all that knowledge in each issue of the newsletter with less words and more charts so that you get insights, direct to the point, in five minutes or less. Join more than 22,000 investors here: Upgrade to paid Done? Thanks! That’s great! Now let’s dive in. P.S. we have just released a new dashboard on the Bitcoin miners. The purpose of this dashboard is to track if the Bitcoin miners stocks are over priced or under priced relative to Bitcoin. Paid subscribers can check it out here.  Underpriced all the way down: a pattern in Bitcoin’s correlations The takeaway The pattern of price correlations indicates that relative to leading assets Bitcoin, Ethereum and the miners are underpriced. At the same time the NASDAQ is pushing to record highs and Bitcoin looks ripe for a breakout.  So if you think macro will turn out favourable to risk assets in the coming months then now is a good time to take long positions. Bitcoin is chasing after the NASDAQ... Continue reading this post for free, courtesy of Ecoinometrics. Claim my free post Or upgrade your subscription. Upgrade to paid A subscription gets you: Three issues of the newsletter, every week. Access to the monthly reports: Bitcoin on-chain trends, miners stocks, correlations, ETFs. Access to all the extra guides and dashboards on our website.   Like Comment Restack   © 2024 Ecoinometrics 548 Market Street PMB 72296, San Francisco, CA 94104 Unsubscribe