OKEx Report: BTC and Chicago Board Options Exchange Volatility Index Correlation is close to the highest level since January 2017

The OKEx report shows that the relationship between Bitcoin and the Chicago Board Options Exchange (CBOE) Volatility Index (VIX) is getting closer. According to the historical data of BTC and VIX 90-day rolling, the correlation coefficient is close to +0.2. The correlation between the two is close to the highest level since January 2017. (Note: Volatility Index VIX is a benchmark index for measuring US stock market volatility.) Although the link between BTC and Volatility Index is getting closer, BTC is still highly correlated with gold. The report concludes that the Volatility Index may be another reference for BTC, helping investors and traders to find trends in cryptocurrencies; however, the correlation between BTC and VIX does not mean that investors are rushing to buy BTC. Instead, this is one of the signs that cryptocurrency trading and investment are becoming more mainstream.