BNC insights feed
Word on the Street: Tether resumes peg but bank relationship still dubious
The overall crypto market cap has declined ~1.9% over the past 5 days from ~$209b to ~$205b. After being hammered in the past week the S&P500 has rebounded ~3% and bitcoin’s correlation with the S&P continued its October downtrend, declining on the week to a semi-weak correlation of .2. The stock market came back with a bounce in the past two days with chipmakers leading the way – Nvidia one of the biggest chipmakers for crypto mining GPUs bounced over 10% since the start of the week.
