Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain
  • Web 3
    • NFT
    • Metaverse
  • Regulation
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Moroccan researchers tap blockchain for diploma fraud prevention

2025-06-06

Dassault Systèmes: Doubling EPS against 2029, 3D UNIV+RSEs create new growth opportunities

2025-06-06

BNB – Signs of accumulation, but should traders wait for a dip instead?

2025-06-06
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
Facebook X (Twitter) Instagram
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain

    Moroccan researchers tap blockchain for diploma fraud prevention

    2025-06-06

    Kommunitas and Nativ Forge Alliance to transform Real-World digital economies

    2025-06-06

    Shards Protocol lands $ 2 million from Animoca, YGG to grow web3 Identity Layer

    2025-06-05

    Soonchain Fores Partnership with Rei Network to define web3 gaming

    2025-06-05

    Maskdao acquires Orb.Club, which unlocks virality in the chain to stimulate the creator economy

    2025-06-05
  • Web 3
    • NFT
    • Metaverse
  • Regulation

    Anthropic CEO calls for AI transparency, argues against Trump Bill’s decade-long state-controlling freezing

    2025-06-05

    Former Doge -Head Elon Musk tells Wetgevers to kill Trump’s ‘big, beautiful’ account

    2025-06-05

    Hong Kong Reading to legalize Bitcoin and Crypto derivatives in PURT to Web3 leadership

    2025-06-05

    US-based ETFs that set for growth, despite some regulatory, macro-tailwinds

    2025-06-04

    NYSE ARCA submits to mention Truth Social’s Spot Bitcoin ETF

    2025-06-03
  • Analysis

    Circle makes Wall Street debut as the first major stablecoin -mittent on NYSE

    2025-06-06

    ZK-proof Blockchain Altcoin Lagrange (LA) is getting away after the announcement of new Coinbase support

    2025-06-05

    Successful retest of Breakout zone sets phase for the next leg higher

    2025-06-05

    Circle stock price Skyrockets 234% in less than 30 minutes, causing multiple commercial levels

    2025-06-05

    Here are the two most important graphs in the entire macro, according to the former Goldman Sachs director Raoul Pal

    2025-06-05
  • Learn

    What Is Crypto Staking? A Beginner-Friendly Guide

    2025-06-05

    What Are Liquidity Pools? A Beginner’s Guide

    2025-06-05

    What Is Yield Farming and How Does It Work?

    2025-06-02

    What Is Asset Tokenization? How It Works and Why It’s Important

    2025-05-30

    What Is DeFi 2.0 and Why It Matters

    2025-05-27
  • Blog
  • Contact
    • Tech7685@gmail.com
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Bitcoin»STX and Bitcoin: Correlation of 0.86 Indicates Big Moves – Next $4 Rally?
Bitcoin

STX and Bitcoin: Correlation of 0.86 Indicates Big Moves – Next $4 Rally?

2024-11-13No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email
  • Stacks’ strong correlation with Bitcoin suggested a possible rally.
  • STX is trading above the 200 EMA but has broken back into four-month resistance.

The correlation between stacks [STX] and Bitcoin [BTC] Prices were strong, with a correlation coefficient of 0.86. Stacks served as a high-beta play on Bitcoin and provided leverage within the BTC ecosystem.

Similarly, ALEXLabBTC (ALEX) and Arkadiko Finance (DIKO), leading DeFi protocols on the Stacks platform, offered higher beta capabilities tied to STX.

This created a multi-layered investment potential within the growing Bitcoin ecosystem. However, STX, ALEX and DIKO remained well below their March highs from earlier this year.

Source:

This backdrop sets the stage for assessing how Stacks could perform, following Bitcoin’s future moves.

STX is trading above the 200 EMA

Stacks’ price action briefly broke above a four-month resistance level but then fell back within this range, indicating a possible false breakout on the weekly time frame.

Despite this retracement, STX traded above the 200-day EMA, indicating an overall bullish long-term trend. The striking green candlestick breaking through resistance, followed by a red one, illustrates the volatility and uncertainty at the breakout point.

However, maintaining a position above the 200 EMA on the weekly time frame offers a stable outlook, which supports potential future gains.

STXSTX

Source: trading view

Comparing STX’s percentage gains to Bitcoin’s performance shows a correlation in their price actions, with STX mirroring Bitcoin’s overall market movements.

This correlation suggested that if Bitcoin continues its uptrend, STX could indeed pursue the $4 target. Observing Bitcoin’s trajectory will be crucial for predicting STX’s moves, especially since it showed signs of following Bitcoin closely.

See also  Bitcoin's Dominance, the opportunities of the Altcoin season and everything about this deep market set

Open interest rates and premium index

When Stacks broke out of the consolidation pattern within a certain range, open interest rose sharply, indicating STX would be bought from traders, possibly in anticipation of a rally to $4.

At the same time, the Aggregated Premium also saw a significant spike, indicating that traders were willing to pay a higher premium on futures contracts in anticipation of future price increases.

This aligned with the volume bars showing increased trading activity, further supporting the bullish sentiment surrounding STX.

Source: Velo/Tradingview


Read stacks [STX] Price forecast 2024-25


Given rising Bitcoin prices and increased traditional financial attention, it is likely that the Bitcoin ecosystem like STX will benefit.

The rise in open interest, coupled with rising premiums and volume, could propel the token to new highs as part of the broader bullish momentum in the cryptocurrency markets tied to Bitcoin’s performance.

Next: Bitcoin FOMO Increases as BTC Hopes at $100,000 Increase – Impacting Two Key Areas

Source link

Big Bitcoin Correlation moves rally STX
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin network activity is booming despite a quiet market – data

2025-06-06

The HODL level of Bitcoin reaches 2 years high: are LTHS the key to the next wave of BTC?

2025-06-06

Moscow Exchange gives a list of BlackRock Bitcoin Futures

2025-06-05

Former Doge -Head Elon Musk tells Wetgevers to kill Trump’s ‘big, beautiful’ account

2025-06-05
Add A Comment

Comments are closed.

Top Posts

Upcoming elections and mass stimulus will be very positive for Crypto, says Real Vision founder Raoul Pal

2024-02-11

Bitcoin ETF Options Debut Leads to Record Trading – BlackRock’s IBIT Leads the Way

2024-11-21

Analyst predicts that XRP could rise to $263 on a bullish breakout

2024-08-14
Editors Picks

Will Polkadot break out soon? 2 major levels say yes!

2024-08-20

Trader Says DeFi Altcoin Aave Witnesses Clear Trend Change, Updates Forecast for Two Low-Cap Coins

2024-10-22

Crypto Analyst Says Price Will Rise to $0.9

2023-11-01

Ordinal Inscriptions Approach 19 Million Amid Stagnant Costs, Bitcoin NFT Sales Decline

2023-07-23

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Moroccan researchers tap blockchain for diploma fraud prevention

Dassault Systèmes: Doubling EPS against 2029, 3D UNIV+RSEs create new growth opportunities

BNB – Signs of accumulation, but should traders wait for a dip instead?

Get Informed

Subscribe to Updates

Get the latest news and Update from Bitcoin Platform about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
© 2025 Bitcoinplatform.com - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$102,600.77-2.46%
  • ethereumEthereum(ETH)$2,450.85-6.78%
  • tetherTether USDt(USDT)$1.000.01%
  • rippleXRP(XRP)$2.13-3.64%
  • binancecoinBNB(BNB)$640.20-4.08%
  • solanaSolana(SOL)$147.02-4.40%
  • usd-coinUSDC(USDC)$1.000.02%
  • tronTRON(TRX)$0.2768371.19%
  • dogecoinDogecoin(DOGE)$0.174821-8.12%
  • cardanoCardano(ADA)$0.64-5.98%
  • hyperliquidHyperliquid(HYPE)$34.52-2.72%
  • suiSui(SUI)$2.98-6.63%
  • chainlinkChainlink(LINK)$13.16-5.42%
  • stellarStellar(XLM)$0.260170-2.80%
  • avalanche-2Avalanche(AVAX)$19.21-5.22%
  • unus-sed-leoUNUS SED LEO(LEO)$8.77-1.93%
  • bitcoin-cashBitcoin Cash(BCH)$384.20-4.90%
  • the-open-networkToncoin(TON)$3.08-3.70%
  • shiba-inuShiba Inu(SHIB)$0.000012-5.67%
  • hedera-hashgraphHedera(HBAR)$0.164087-2.72%
  • litecoinLitecoin(LTC)$84.14-4.85%
  • polkadotPolkadot(DOT)$3.90-3.64%
  • moneroMonero(XMR)$319.420.50%
  • ethena-usdeEthena USDe(USDE)$1.00-0.02%
  • daiDai(DAI)$1.000.01%
  • bitget-tokenBitget Token(BGB)$4.58-3.39%
  • piPi(PI)$0.62-4.52%
  • pepePepe(PEPE)$0.000011-9.96%
  • uniswapUniswap(UNI)$6.02-5.29%
  • aaveAave(AAVE)$246.31-7.13%
  • bittensorBittensor(TAO)$361.26-5.27%
  • okbOKB(OKB)$49.93-0.30%
  • crypto-com-chainCronos(CRO)$0.098118-2.32%
  • aptosAptos(APT)$4.58-5.01%
  • nearNEAR Protocol(NEAR)$2.30-6.39%
  • internet-computerInternet Computer(ICP)$4.94-6.82%
  • ethereum-classicEthereum Classic(ETC)$16.51-4.82%
  • ondo-financeOndo(ONDO)$0.79-4.72%
  • gatechain-tokenGateToken(GT)$18.64-2.75%
  • usd1World Liberty Financial USD(USD1)$1.000.04%
  • kaspaKaspa(KAS)$0.082195-1.97%
  • mantleMantle(MNT)$0.64-4.49%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.203229-5.98%
  • vechainVeChain(VET)$0.022906-3.98%
  • official-trumpOFFICIAL TRUMP(TRUMP)$9.76-10.93%
  • render-tokenRender(RENDER)$3.64-4.16%
  • ethenaEthena(ENA)$0.291641-7.88%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.72-9.79%
  • worldcoin-wldWorldcoin(WLD)$1.05-7.39%
  • filecoinFilecoin(FIL)$2.41-6.84%
  • bitcoinBitcoin(BTC)$102,600.77-2.46%
  • ethereumEthereum(ETH)$2,450.85-6.78%
  • tetherTether USDt(USDT)$1.000.01%
  • rippleXRP(XRP)$2.13-3.64%
  • binancecoinBNB(BNB)$640.20-4.08%
  • solanaSolana(SOL)$147.02-4.40%
  • usd-coinUSDC(USDC)$1.000.02%
  • tronTRON(TRX)$0.2768371.19%
  • dogecoinDogecoin(DOGE)$0.174821-8.12%
  • cardanoCardano(ADA)$0.64-5.98%
  • hyperliquidHyperliquid(HYPE)$34.52-2.72%
  • suiSui(SUI)$2.98-6.63%
  • chainlinkChainlink(LINK)$13.16-5.42%
  • stellarStellar(XLM)$0.260170-2.80%
  • avalanche-2Avalanche(AVAX)$19.21-5.22%
  • unus-sed-leoUNUS SED LEO(LEO)$8.77-1.93%
  • bitcoin-cashBitcoin Cash(BCH)$384.20-4.90%
  • the-open-networkToncoin(TON)$3.08-3.70%
  • shiba-inuShiba Inu(SHIB)$0.000012-5.67%
  • hedera-hashgraphHedera(HBAR)$0.164087-2.72%
  • litecoinLitecoin(LTC)$84.14-4.85%
  • polkadotPolkadot(DOT)$3.90-3.64%
  • moneroMonero(XMR)$319.420.50%
  • ethena-usdeEthena USDe(USDE)$1.00-0.02%
  • daiDai(DAI)$1.000.01%
  • bitget-tokenBitget Token(BGB)$4.58-3.39%
  • piPi(PI)$0.62-4.52%
  • pepePepe(PEPE)$0.000011-9.96%
  • uniswapUniswap(UNI)$6.02-5.29%
  • aaveAave(AAVE)$246.31-7.13%
  • bittensorBittensor(TAO)$361.26-5.27%
  • okbOKB(OKB)$49.93-0.30%
  • crypto-com-chainCronos(CRO)$0.098118-2.32%
  • aptosAptos(APT)$4.58-5.01%
  • nearNEAR Protocol(NEAR)$2.30-6.39%
  • internet-computerInternet Computer(ICP)$4.94-6.82%
  • ethereum-classicEthereum Classic(ETC)$16.51-4.82%
  • ondo-financeOndo(ONDO)$0.79-4.72%
  • gatechain-tokenGateToken(GT)$18.64-2.75%
  • usd1World Liberty Financial USD(USD1)$1.000.04%
  • kaspaKaspa(KAS)$0.082195-1.97%
  • mantleMantle(MNT)$0.64-4.49%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.203229-5.98%
  • vechainVeChain(VET)$0.022906-3.98%
  • official-trumpOFFICIAL TRUMP(TRUMP)$9.76-10.93%
  • render-tokenRender(RENDER)$3.64-4.16%
  • ethenaEthena(ENA)$0.291641-7.88%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.72-9.79%
  • worldcoin-wldWorldcoin(WLD)$1.05-7.39%
  • filecoinFilecoin(FIL)$2.41-6.84%