Bitcoin and Ethereum rolling correlation declined below 80% first time in 18 months, what this means


  • Bitcoin and Ethereum 30-day rolling correlation declined to 78%, for the first time in 18 months. 
  • Bitcoin is outperforming other cryptocurrencies amidst the banking turmoil and changing macroeconomic outlook. 
  • Ether and other assets in the top 30 are struggling to recover from their recent pullback. 

Based on data from crypto intelligence tracker Kaiko data, the 30-day correlation between the two largest assets by market capitalization has declined below 80% for the first time in a year and half. 

Also read: Ethereum blockchain hits roadblock in finalizing blocks, ETH price continues recovery

Bitcoin and Ether correlation nosedives, what’s next

Typically, when the correlation between Bitcoin and Ethereum drops, the assets’ prices do not react in a similar manner to macroeconomic conditions and other catalysts. While Bitcoin price has fallen out of correlation with US equities, climbing higher during the banking crisis and increasing regulatory scrutiny. 

Bitcoin correlation with Ether

Bitcoin correlation with Ether

As the 30-day rolling correlation between Bitcoin and Ethereum declined to 78%, altcoin lagged behind in its recovery. 

Crypto assets in the top 30 are struggling to recover from their recent pullback while Bitcoin attempts to make a comeback above $27,000. 

Top 10 in market capitalisation

Cryptocurrencies in the top 10 by market capitalization

Ethereum ecosystem tokens and Layer 2 assets are correlated with ETH. With Ethereum’s declining correlation with Bitcoin, ETH and ecosystem tokens could see a drop in volatility response to macro market-moving events. 

Since the two crypto assets’ correlation dropped for the first time since November 2021, it is a significant event and experts are closely watching prices and on-chain activity for signs of recovery. 

Bitcoin price wiped out its US CPI-induced gains, while Ethereum price noted a modest 2.5% climb since Friday. Ether and its ecosystem tokens are poised for recovery with the rising ETH deposits in the Shanghai contract. 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Cardano Price Forecast: ADA profit-taking and dormant wallet activity rise as BTC dips below $100K

Cardano Price Forecast: ADA profit-taking and dormant wallet activity rise as BTC dips below $100K

Cardano (ADA) price hovers around $0.54 on Monday, after falling nearly 15% last week, as tensions in the Middle East escalated following the US attack on Iran. This double-digit correction triggered a wave of liquidation, wiping out a total of nearly $17 million in long positions last week.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – Bears set sight on $98K BTC, $2K ETH and $1.77 XRP

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – Bears set sight on $98K BTC, $2K ETH and $1.77 XRP

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) declined by nearly 5%, 13%, and 7%, respectively, last week as tensions in the Middle East escalated. BTC is nearly at its key support level of around $100,000; a close below this level would trigger further correction.

Top Crypto Gainers Price Prediction: OKB, IP, HYPE post gains, shrug off Bitcoin’s dip to $100,000

Top Crypto Gainers Price Prediction: OKB, IP, HYPE post gains, shrug off Bitcoin’s dip to $100,000

The broader cryptocurrency market experiences a surge in selling pressure as Bitcoin (BTC) dips close to $100,000 at press time on Monday. Against this backdrop, the majority of top altcoins trade in the red while OKB (OKB), Story (IP), and Hyperliquid (HYPE) hold bullish momentum. 

Analysts slap over 90% chance of approval on altcoin ETFs including XRP and Litecoin following SEC's engagement

Analysts slap over 90% chance of approval on altcoin ETFs including XRP and Litecoin following SEC's engagement

Altcoin exchange-traded funds (ETFs) received a boost in approval odds on Friday from Bloomberg analysts James Seyffart and Eric Balchunas, with most of them now having a 90% chance of approval.

Bitcoin Weekly Forecast: The calm before the storm

Bitcoin Weekly Forecast: The calm before the storm

Bitcoin (BTC) price remains steady above a key support level, trading slightly above $106,000 at the time of writing on Friday. The uncertainty looms as geopolitical tensions between Iran and Israel show no sign yet of an exit strategy from either side.

The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

BTC

ETH

XRP