It appears that Bitcoin, after all of this, is correlated to absolutely nothing.

It is probably an eternally long conversation when you want to talk about what actually drives the prices of BTC, which then drives the prices for all of Crypto. And with that I do not mean the Supply and Demand of prices, but the correlation of Bitcoin to other big financial assets. Somehow it seems like everyone wants to compare BTC to stocks, commodities, bonds and even the real estate, which I personally never understood as Crypto is its completely own asset class, which is distinctive on its own.

Now we even have solid market data to confirm that, I present to you the correlation of BTC to other assets (imported from analyst James V. Straten):

SPX: -0.05

Nasdaq: 0.04

XAU: -0.12

DXY: 0.12

ETH: 0.70

Here is also the chart to that:

​

Chart showing BTC correlation to assets like SPX, NADAQ, Gold, DXY and ETH

So this makes it very obvious that BTC is correlated to absolutely nothing. To the stock markets BTC even has a negative correlation and barely any to NASDAQ, which was often compared to BTC due to being for the big tech and sometimes just as or even more volatile.

Now even got the evidence, to finally say that Crypto is its own asset-class, which also makes it obvious that we should not be fighting for security or even commodity regulation, but our own new asset-class regulations of “Cryptocurrency“.