Market wrap - July 6th, 2020
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
1. Cryptocurrencies, as represented by the CIX100 Index (in blue) outperformed traditional assets such as S&P 500 (in Red), and Gold (in Black), in 2020.
2. BTC is displaying stronger characteristics of a risk asset, as Bitcoin – S&P 500 Realized Correlation hits 2- year high, crossing 65% at the start of Q3 2020.
3. As BTC consolidates in a tight range from 8800 to 9300 in the past 10 days, its realized volatility continues to plunge to a 1-year low of 35% (on par with S&P 500)
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