Bitcoin’s Correlation With Gold-Backed PAXG Token Weakens to Record Low

Bitcoin’s Correlation With Gold-Backed PAXG Token Weakens to Record Low

“This reflects BTC’s increasing correlation with macro stock indices as well as its recent behavior as a risk asset rather than a store-of-value, and points to price turbulence ahead as markets digest the impact of further inflation and liquidity withdrawals,” Noelle Acheson, head of market insights at CoinDesk’s sister concern Genesis Global said.

Originally Posted on: https://www.coindesk.com/markets/2022/04/26/bitcoins-correlation-with-gold-backed-paxg-token-weakens-to-record-low/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
By: Omkar Godbole

Written by:

10,522 Posts

View All Posts
Follow Me :

Leave a Reply

%d bloggers like this: