The bitcoin price fell 4% over the past seven days, dropping below the critical technical level at $40k. All the top 3 coins by market cap continue following each other closely and are down between 3% and 5%.
The 90-day correlation between bitcoin and ether is still elevated, sitting at 0.92, which is close to an all-time high. Bitcoin’s correlation with the S&P 500 also continues to grind upwards, currently sitting at 0.59, also close to an all-time high.