Bitcoin price correlation with Nvidia stock price reaches highest level since May 2023
According to data from chart platform TradingView, the 90-day correlation coefficient between Bitcoin and Nvidia's stock price has risen to 0.86, the highest level since May 2023, and turned positive in November. Since July 2020, the 52-week correlation has been positive and has now risen to 0.88, the highest level since January 2023. A coefficient above 0.80 indicates a high correlation between Bitcoin and NVDA, and a tendency to move in the same direction.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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