Bitcoin-Solana correlation coefficient reaches 0.99, digital asset synchronization intensifies

Source: BlockMedia Original Title: Bitcoin-Solana Correlation Coefficient 0.99…Digital Asset Synchronization Intensifies Original Link:

Market Dynamics

The digital asset market shows a high degree of synchronization. The price correlation coefficient between Bitcoin(BTC) and Solana(SOL) reaches 0.99, indicating that their trends are largely aligned. Ethereum(ETH) also exhibits a strong correlation with mainstream altcoins, further expanding its market influence.

According to data from the DeFi analysis platform, the correlation among major digital assets has been unusually high over the past week. The correlation coefficient between BTC and SOL is 0.99, implying that Solana, a high-risk, high-reward asset, is experiencing rare synchronized fluctuations with Bitcoin.

During the same period, mainstream assets such as Bitcoin and Ethereum(0.89), Ripple(XRP·0.86), Cardano(ADA·0.86), and Dogecoin(DOGE·0.87) all show high correlation. Market analysis suggests that “the overall market is dominated by macroeconomic conditions and Bitcoin price trends, rather than individual positive or negative news.”

Ethereum’s correlation coefficients with ADA(0.95), SOL(0.93), and DOGE(0.92) all exceed 0.9, making it the most broadly correlated asset in the market. In contrast, a major exchange’s token(BNB) is the only primary asset maintaining an independent trend, with a correlation coefficient of only 0.27 with Bitcoin and 0.32 with SOL, relatively detached from the synchronization trend. Market opinion holds that “BNB is more influenced by its own ecosystem events and exchange-related dynamics.”

Market Status

The overall market remains volatile. According to the latest data, Bitcoin failed to recover the $90,000 mark, down 2% from last week; Ethereum trades sideways around $3,100; XRP declined by 4% during the same period; Solana fell approximately 3%.

Analytical Views

Market analysis indicates that “high correlation typically occurs during periods of liquidity contraction or increased volatility. The current market is more driven by external macro variables such as inflation policies rather than fundamental factors of individual assets.”