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#BTC# Bitcoin, once celebrated for its low correlation to mainstream financial assets, has increasingly exhibited sensitivity to the same variables that drive equity markets over short time frames," said NYDIC Research in a report.
In fact, the correlation is now hovering near the higher end of the historical range, according to NYDIG's calculations. "Bitcoin’s correlation with U.S. equities remained elevated through the end of the quarter, closing at 0.48, a level near the higher end of its historical range