Crypto data provider Kaiko has announced that the correlation between Bitcoin and Ethereum is at its lowest level since 2021.
Kaiko stunned the crypto world with a data released on Monday. Explaining that the correlation between Bitcoin and Ethereum has reached the lowest value since 2021, Kaiko divided crypto investors into two. While some argued that this situation would have a positive impact on the market, the other part stated that it could lead to dangers. The leaders of the market, which acted together for most of the last year, continue to surprise with the data in 2023.
Correlation Level Dropped to 77 Percent
Correlation data, which tested the bottom by reaching 77 percent after 2021, created an echo in the crypto industry. While many theories have been put forward about this event, the most notable theory among them is that Ethereum has recently shined with staking services. It remains to be seen how this data on Bitcoin and Ethereum, which diverges from each other, will affect the market.
Bitcoin and Ethereum, which have clearly separated from each other in the past, have reached the bottom again since 2021. The way the crypto communities have evaluated this issue has been the changes in “trading pairs”. Bitcoin and Ethereum, which have not yet been able to throw themselves into a clear price range, have been a matter of curiosity about how they will move in the next processes.
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