Last week, the correlation between Bitcoin and Ether prices fell to 78%, the lowest level since November 2021, according to Kaiko
This indicates a significant shift in the relationship between the two biggest cryptocurrencies, with their prices moving in different directions more often.
Coinbase’s analysis in April suggested that this decline began in mid-March, when bitcoin’s outperformance of other cryptos was observed.
Low correlation between two assets reinforces the case for diversification, and both bitcoin and ether have seen significant gains this year, up 62% and 50%, respectively.
