“Japanese and South Korean stocks plunge across the board; SK Hynix tumbles 11%” was trending across the internet, and $BTC , affected by the stock market, was also mentioned.
For the buzz to spill over into crypto prices, it takes three steps:
① Attention: Does the community start discussing it?
② Trading volume: Does trading volume increase along with it?
③ Staying power: Can the buzz last for 24 hours?
$BTC is currently priced at 80831.26, down 3.13% over 24h. It only counts as a genuine correlation if it clears all three hurdles; if it only makes it to the first, the excitement will probably fade quickly.
The closer the correlation, the more effectively the impact carries over.
#BTC
For the buzz to spill over into crypto prices, it takes three steps:
① Attention: Does the community start discussing it?
② Trading volume: Does trading volume increase along with it?
③ Staying power: Can the buzz last for 24 hours?
$BTC is currently priced at 80831.26, down 3.13% over 24h. It only counts as a genuine correlation if it clears all three hurdles; if it only makes it to the first, the excitement will probably fade quickly.
The closer the correlation, the more effectively the impact carries over.
#BTC