How is the correlation between BTC and ETH right now? in the recent past

Fere Pro Created at: 22 November, 2024 08:31 AM

To analyze the correlation between Bitcoin (BTC) and Ethereum (ETH) over the recent past, I have gathered the following data:

Current Prices

  • Bitcoin (BTC): ₹97,147.00
  • Ethereum (ETH): ₹3,328.84

Price Changes Over the Last 30 Days

  • Bitcoin (BTC):
    • Price Change: +₹29,943.57
    • Percentage Change: +44.59%
  • Ethereum (ETH):
    • Price Change: +₹226.84 (approx.)
    • Percentage Change: +7.36%

Price Changes Over the Last 7 Days

  • Bitcoin (BTC):
    • Percentage Change: +8.92%
  • Ethereum (ETH):
    • Percentage Change: +5.44%

Correlation Analysis

To determine the correlation, we can look at the price movements of both cryptocurrencies over the past month. The significant increase in Bitcoin's price (+44.59%) compared to Ethereum's more modest increase (+7.36%) suggests that Bitcoin has been outperforming Ethereum recently.

Summary

  • BTC has shown a much stronger performance compared to ETH in the last 30 days, indicating a potential divergence in their price movements.
  • The correlation can be further quantified using statistical methods (like Pearson correlation coefficient) if historical price data points are analyzed in detail.

If you need a more detailed statistical analysis or specific correlation coefficients, please let me know!

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