Bitcoin Diverges From Tech Stocks as FTX Fallout Continues

Bitcoin is once again diverging from its correlation with equities as traders react to a disappointing earnings season and the latest news on FTX’s bankruptcy filing.  The largest digital currency’s 30-day rolling correlation with US equities fell to .17 last week — its lowest level since November 2021 — before recovering to .4, according to data from Kaiko. A correlation coefficient of 1 means the assets are moving perfectly together.  “On any other week, crypto markets would have almost certainly experienced a significant bounce after last week’s inflation print, which fueled hopes that inflation may be peaking and the Fed