A drop in Bitcoin trading resulted in a six-month low of Bitcoin’s annualized volatility.
Though Bitcoin’s (BTC) correlation with gold has diminished, the asset’s correlation with the S&P 500 stock market index is on the rise, researchers from Kraken exchange found.
Kraken Intelligence, a research arm of major United States cryptocurrency exchange, Kraken, released a “Bitcoin Volatility Report” for June 2020.
Bitcoin’s volatility hits a 6-month low
Published on July 9, the new report outlines a 31% drop in Bitcoin trading that resulted in a six-month low of Bitcoin’s annualized volatility, which accounted for 51% in June.
According to the report, the significant decline in volumes and volatility marked June as the quietest month since February 2020 for Bitcoin. Thi