This is a huge step forward for BTC as it tries to shake off the idea it is some super risky asset. It has broken the trend both in how it has increased but also when it consolidated.
With U.S. Equities
The current 30-day correlation between the two assets is just 0.46, one of the lowest recorded levels in the past five years. While in September, we observed a negative correlation of almost -0.50.
With Ether
However, on a 30-day rolling correlation, bitcoin and ether now just have a 0.35 correlation, which is the second lowest recorded level