Arab Chain
The data reveals negative daily returns for Bitcoin and Ethereum, reflecting a decline in short-term momentum.
Binance data reveals that, from a return perspective, the daily logarithmic returns for Bitcoin and Ethereum are negative, with Bitcoin trading near the $87,000 level and Ethereum hovering around $3,000. However, Bitcoinโs decline has been more pronounced than Ethereumโs, leading to a noticeable reduction in short-term momentum. This behavior reflects a natural corrective phase following periods of strong gains and does not necessarily signal the start of a long-term downtrend. Most importantly, the 30-day moving-average correlation remains at relatively high levels (above 0.85) This confirms that Bitcoin and Ethereum are still moving within the same overall market structure and that any sharp price movements in one asset are often mirrored by the other. However, the stabilization of the correlation without setting new highs suggests the early stages of a gradual divergence in performance. The Ethereum-to-Bitcoin beta remains close to 1.3, indicating that Ethereum is still more sensitive to Bitcoinโs volatility and tends to amplify both upward and downward price movements. This implies that any strong resurgence in Bitcoinโs momentum could trigger sharper moves in Ethereum, while during periods of weakness, Ethereum is likely to experience greater volatility. The persistence of high correlation alongside a relative decline in returns suggests that the market may be entering a consolidation or temporary cooling-off phase