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JPMorgan: Bitcoin has the highest correlation with the Russell 2000 Technology Zone
PANews reported on January 30th that analysts at JPMorgan Chase found that BTC has the highest correlation with small-cap tech stocks, particularly in the Russell 2000 tech zone. This correlation reaches its peak when the tech market is performing strongly or experiencing dumping. Analysts point out that since the outbreak, the correlation between the crypto market and the stock market has remained positive, mainly influenced by the participation of retail investors and the tech-driven nature. In addition, the high correlation between BTC and small-cap tech stocks stems from the crypto industry's reliance on venture capital, and blockchain innovation typically being concentrated in small and medium-sized tech companies, rather than industry giants. JPMorgan emphasizes that during major market adjustments in the tech industry, such as 2020, 2022, and 2024, the correlation between BTC and tech stocks will be more significant, further confirming the close connection between cryptocurrencies and the tech industry.
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