Grayscale: Bitcoin Explains Only 50% of Crypto Sector Returns

Cointime reports: Bitcoin price moves explained only about 50% of the return differences across crypto sectors over the past three years, with sector- and asset-specific factors driving the rest, Grayscale said in a research report on Nov. 13. Correlations between crypto sectors have fallen from prior highs and performance is diverging, the report said. Bitcoin’s realized volatility over the past year was about 43%, versus 49% for crypto payments and 85% for AI.