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Bitcoin selloff pushes its link with stocks higher

A selloff in bitcoin pushed its correlation with stocks higher, Fidelity's Timmer said. Bearish comments now outnumber bullish ones for bitcoin, ether and XRP.

Illustration: A lone physical bitcoin coin rests on a wet dark surface, its cyan and magenta reflections stretching toward a row of glowing chip-shaped shapes that mirror its glow.
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Bitcoin fell in a selloff that pushed its correlation with stocks higher, Timmer of Fidelity said. Correlation measures how closely two assets move together, so a higher figure means they are moving more in step.

Santiment data shows that bearish comments now outnumber bullish ones for bitcoin, ether and XRP. XRP draws roughly one bullish comment for every two bearish ones.

Illustration: Seen from eye level, a crowd of small anonymous speech bubbles floats in the night air above a rain-slicked street, most glowing magenta and only a few cyan, with the magenta ones clearly outnumbering the cyan.
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Crypto values have been sliding steadily, and the downturn has followed that pattern. Back in early November, bitcoin climbed quickly after a comparable spell of pessimism, but the rise did not last.

In numbers

1 to 2XRP bullish to bearish comments

One headline frames bitcoin as moving together with the Nasdaq, AI stocks and chip shares. When bitcoin and stocks move in step, holding both may offer less variety in how they move.

Bitcoin$68,940down −17.05%over 1 month
$84,082$68,94314 Oct13 Nov

Prices by CoinGecko. Past moves say nothing about future ones.

Also in this story

Etherdown −22.16%1 monthXRPdown −24.49%1 month

$1,000 in Bitcoin

Had you put $ into Bitcoin a month ago, it would be worth – now.

From the prices in the chart, before any fees or taxes. Not a suggestion to buy or sell.

GuideCrypto Fear and Greed Index today: how fearful or greedy the crypto market is

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Bitcoin, Ether, XRP

This article is not investment advice. It was written by our automated newsroom from published reports and official statements, using only the facts in them, and not read by a person before it was published. Report a mistake

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