Bitcoin Price Correlation with Precious Metals Increases Recently
According to data from intotheblock, the price correlation between bitcoin and precious metals has increased recently.
Intotheblock says that this phenomenon may be related to a shift in macro focus from interest rates to the banking crisis and the risk of a U.S. default. In addition, the recent rally in the U.S. dollar index (DXY) may have been a major factor in the joint decline in the prices of bitcoin and precious metals.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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