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The Correlation Between Bitcoin Price and Mining Companies Plummeted: "The Coming Is Coming"
Crypto analysis company Alphractal noted in its latest assessment that the correlation between the market values of Bitcoin and crypto mining companies is gradually decreasing.
The company argued that this decline is often seen as a signal before significant volatility or trend changes in the price of Bitcoin.
Alphractal included the following statements in its description:
The company noted that Bitcoin miners are one of the most established elements in the crypto ecosystem, stating that they still hold more BTC than the total of ETFs. It was expressed that this situation highlights the miners' impact on the market and their long-term experiences.
Alphractal also warned investors with the following words, adding that the shares of mining companies show a higher correlation with Bitcoin than all other indices and stocks worldwide:
*This is not an investment advice.
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