Data: Most altcoins rely on Bitcoin Ethereum's average correlation coefficient with Bitcoin to exceed 0.9

The correlation between Bitcoin and other crypto assets has been quite high in the past month. In fact, as of press time, the correlation coefficients between BTC and ETH, XRP, BCH, and LTC were 0.97, 0.96, 0.97, and 0.95, respectively. This discovery highlights the fact that any change in the Bitcoin market will directly and immediately drive changes in other cryptocurrency markets. According to a two-year analysis conducted by Skew in November 2019, the average correlation coefficient between Ethereum and Bitcoin exceeds 0.9.