Here's an animated analysis based on 30-day performance correlations of various cryptocurrencies across different time windows in 2024 and hourly intervals.

🏇 Coordinated Movements

Cryptocurrencies generally exhibit strong correlations, indicating that market movements often impact the entire crypto market similarly. This reflects the influence of common factors such as market sentiment and news.

Decoupling Phenomenon

Occasional divergences occur, particularly during neutral trends in leading assets like Bitcoin (BTC) and Ethereum (ETH). These periods highlight unique opportunities where specific assets move independently of the broader market.

Identifiable Outliers

🕰️ Change in Time Highlights

Overall, from January 2024, there were small correlations across most assets. However, periodically in February, April, and June 2024, these correlations rose. Currently, correlations are the highest across most crypto assets, suggesting BTC and ETH will direct the price movement in the upcoming days.