$XRP is at 1.295 now, down 0.7% over the past week. $BTC is down 2.3%, and $ETH is down 3.5%.
Looks just like a decoupling.
But zoom out to 30 days and it doesn’t look that way: it’s down 15%, while Bitcoin is down just 5%. The real reason isn’t complicated—the drop it was due for had already happened by mid-October.
I calculated the correlation myself: 0.97 over seven days, 0.93 over 30 days.
They’re still tightly linked.
And you call that decoupling?
The money simply hasn’t flowed in. Spot ETFs saw net inflows of $4.3 million over the whole week, but net assets shrank from $1.77 billion to $1.48 billion in a month. The inflows don’t even come close to offsetting the decline.
1.30 is the key level, with the 20-day moving average at 1.34 above it.
It needs to hold above 1.30 before we can talk about a rebound, with 1.34 as the target. A break below 1.285 would mean a breakdown, with 1.2546 as the next level.
An asset that falls less isn’t necessarily stronger; it may just have finished falling earlier.
Watch which side of 1.30 the daily candle closes on.
#比特币 #BinanceSquare
Looks just like a decoupling.
But zoom out to 30 days and it doesn’t look that way: it’s down 15%, while Bitcoin is down just 5%. The real reason isn’t complicated—the drop it was due for had already happened by mid-October.
I calculated the correlation myself: 0.97 over seven days, 0.93 over 30 days.
They’re still tightly linked.
And you call that decoupling?
The money simply hasn’t flowed in. Spot ETFs saw net inflows of $4.3 million over the whole week, but net assets shrank from $1.77 billion to $1.48 billion in a month. The inflows don’t even come close to offsetting the decline.
1.30 is the key level, with the 20-day moving average at 1.34 above it.
It needs to hold above 1.30 before we can talk about a rebound, with 1.34 as the target. A break below 1.285 would mean a breakdown, with 1.2546 as the next level.
An asset that falls less isn’t necessarily stronger; it may just have finished falling earlier.
Watch which side of 1.30 the daily candle closes on.
#比特币 #BinanceSquare
